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What financial crises, its all ignorance?

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G_V_V
Super Contributor
The total market cap for the major banks in America amounts to about $900 billion so I do not see why the $700 billion bail out will not fix the credit crises. That will double the market cap. Tax payers can buy all the below banks with the bail out money, that is just about $2500 per person so what's the problem, they spend that amount on a couple of purchases at the mall. AXP American Express Company 23.15 -0.85 / -3.54% 45,642,847 63.63 - 23.33 26,839,693,300 AIG American International Group, Inc 2.33 -0.06 / -2.51% 228,360,300 69.91 - 1.25 6,264,983,220 BAC Bank Of America Corporation 20.87 +1.24 / +6.32% 213,075,488 52.96 - 18.44 104,705,937,850 BK Bank Of New York Mellon Corp 26.50 +3.32 / +14.32% 21,456,155 50.26 - 20.49 30,370,855,000 SCHW Charles Schwab & Co., Inc 20.20 +1.95 / +10.68% 21,752,237 28.75 - 10.75 23,264,663,200 C Citigroup, Inc 14.11 +1.18 / +9.13% 260,983,222 48.95 - 12.85 76,834,495,230 CMA Comerica Incorporated 24.33 +1.61 / +7.09% 5,832,476 54.50 - 19.31 3,660,472,830 GE General Electric Company 21.50 +2.49 / +13.10% 275,275,400 42.09 - 19.00 213,882,602,000 GS Goldman Sachs Group, Inc 88.80 -12.55 / -12.38% 71,348,025 250.70 - 85.88 35,115,249,600 JPM JPMorgan Chase & Co 41.64 +4.96 / +13.52% 112,986,930 50.63 - 29.24 162,587,419,080 LEH Lehman Brothers Holdings Inc 0.10 -0.00 / -2.00% 24,005,429 67.73 - 0.02 67,522,000 MER Merrill Lynch & Co., Inc 15.75 +2.43 / +18.24% 78,865,272 76.31 - 12.12 24,093,625,500 MS Morgan Stanley 9.68 -2.77 / -22.25% 207,088,145 69.02 - 11.70 10,272,541,840 STT State Street Corporation 43.20 +2.20 / +5.37% 13,694,087 86.55 - 29.09 18,651,513,600 PNC The PNC Financial Services Group, Inc 68.00 +8.15 / +13.62% 8,589,309 87.99 - 49.01 23,561,796,000 UBS UBS Ag 15.30 -0.20 / -1.29% 7,436,000 57.83 - 12.22 33,818,844,600 WB Wachovia Corp 5.15 +1.55 / +43.06% 156,745,170 51.41 - 0.75 11,118,103,250 WFC Wells Fargo & Company 28.31 +1.06 / +3.89% 122,100,460 44.69 - 20.46 93,676,685,910
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29 REPLIES 29
Surf_Rat
Super Contributor
thanks for that mate some good confirmation All I can say some people are going to make big money at these stock levels if we can just hang in Bank failure just cannot happen and the markets know that so they will make as many dollars as it takes to get them going the markets are just making sure they can max the profit from this deal ( retail investors will land up paying for most of this mess ) so we pay our tax , put our money in the banks and pay monthly fees and now they want to chow our investments by scaring us out the markets ) Lets see
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Vano
Regular Contributor
The real problem, which runs into many trillions of dollars, is not being acknowledged publicly. The American banks are not short of money, they are hoarding all the cash they can get, because no bank can trust any other bank - afraid they will not pay back / go bankrupt. Trust the bankers to know more about the problem than we do. Fools rush in where the "masters of the universe" fear to tread. The $700 billion was authorised, but that did not relieve the situation one bit. The okes at the banks know better than that..... The poor homeowner is being blamed for the problem. The actual problem is caused by the banks being heavily invested in leveraged derivatives and hedge funds. The banks are trying to de-leverage, but no-one with enough money, is stupid enough to buy their schemes any more. (if the banks do not trust one another, who on earth will trust the banks?) OMO
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_nova
Super Contributor
jayzuz wept dude! try 54 trillion that's floating around in the CDS market. WAKE UP! THAT'S WHAT THIS IS ABOUT! IT'S GOT F' ALL TO DO WITH MORTGAGES! Immediate redemptions total around 16 trillion, and that's USD!!!! I'm frigging amazed at your statement
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HungryPunter
Regular Contributor
God bless America. IMO or is it OMO......The Devil for the rest
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G_V_V
Super Contributor
The bears are trying to create a panic from ignorant investors. Most investors don't know the facts and panic out causing an avalanche, the only difference is that the money ball is getting smaller as it rolls down the diflationary hill.
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G_V_V
Super Contributor
The real problem is the loss of confidence in property valuations. The people who have bought last are now having to carry the baby so to speak. AS prices come down they are reluctant to continue to hold. It is more affordable for owners to forfeit, loose their deposit and buy cheaper, so the banks are left carrying the baby so to speak. If the banks can hold onto the baby for long enough and the property market turns again those people who have sold will be the looses, and rightfully so. They are the ones to blame and the banks sould not lend them money to refinance homes at cheaper values. By implementing such a law will end the greed that such fools are trying to achieve.
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Not applicable
C V V the more u say the more your ignorance and in some cases stupifying level of stupidity is vividly revealed...
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G_V_V
Super Contributor
Who is paying you to spread rumors to cause panic? Are you a bear with no money and short on futures with high gearing? The properties, roads and infrastructure is still there in America so it is all a matter of confidence which you are trying to erode. Are you working for for the same people that flew into the Trade Towers on 9/11?
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G_V_V
Super Contributor
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G_V_V
Super Contributor
Thanks for the complement, and here is the other cheek.
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divz
Super Contributor
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YNWA
Super Contributor
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_nova
Super Contributor
You are ignorant, ignorant, ignorant... and frankly I don't need to respond to your accusations since they're just plain immature. But for your enlightenment, no I'm not a bear nor a bull, I'm neither and I learn't that the hard way, in fact I'm still long this market, yes you twat, I'm long, LONG, LOOONG, on shares that is and only shares. On the other hand I've used shorts from waaaay back (when fools like you we're still buying like there's no tomorrow) to hedge my position and in that way at least my draw down is like nothing the market or cute little bunny rabbits like you experience. Bottom line - I still have a packet of cash to trade with and average down when the time is right... do you?
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Vano
Regular Contributor
Nova, Scary stuff, coming from a respected scource like M&G. What happened to GiuseppeVV? I think you scared the ***** out of him. Could he be busy selling his shares? 'n Halwe begrip het net 'n goeie woord nodig. omo
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G_V_V
Super Contributor
Precisely you hedged your longs so today you are crying for it to go down. Are you trying to squeeze blood from a stone?
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G_V_V
Super Contributor
Nobody goes bankrupt taking a profit. lol
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_nova
Super Contributor
Ja nee Vano, ek was werklik so stunned dat enigiemand nog dink die probleem is 'quantifiable' of vatbaar dat ek net moes iets se. Sorry GVV as ek jou offend maar jy moet rerig bietjie dieper na die ding gaan kyk. Dit is nou oor vertroue en die geheimpies wat die groot bankiers van weet wat ons nie weet nie. Die fundamentals soos infrastruktuur en PE's beteken nou absoluut boggerol tot die groot banke nie wys hulle het vertroue in die stelsel nie. En hulle gaan nie hulle storie verander tot hulle nie weet wat in die krediet mark aangaan nie en wie wat skuld. Dit maak nie saak wat Bernanke et al doen nie. Jy moet leer om soos Chartist hulle te maak en kyk net na die onmiddelike prentjie as jy gaan trade. As jy long term is dan beter jy teen die tyd baie wyd gehedge te wees of langs die kantlyn sit met *****ant of GLD
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_nova
Super Contributor
Dude? Chartist is right, the more you say the more you prove just how little you know. I'm following a common strategy that a lot of people follow who are a lot smarter than I am. At least say something intelligent and stop trying to prove what an astute trader you are because you're proving the exact opposite
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G_V_V
Super Contributor
Chartist follows trends, he is a sheep. I look at the whole picture. Last night I dreamed of sh*t so I knew I was in the money today.
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