Stocks tumble after sales of existing homes fall

Humpty Dumpty sat on a wall.
Humpty Dumpty had a great fall.
All the king's horses and all the king's men,
Couldn't put Humpty together again.

Heh... I guess Bush should say that he found oil on the moon to jump the stock market.

Dajokerman wrote:

Heh... I guess Bush should say that he found oil on the moon to jump the stock market.

Yup, authorize drilling offshore in the Sea of Tranquility.

this is pretty bad. san francisco earthquake put a run on the banks too. insurance companies didn't want to pay. they eventually paid some but they raised their rates. the market lost alot of money. not just here but in alot of other countries. what happened here is not nature. its wall street! these guys should be !@#$!

Dajokerman wrote:

Heh... I guess Bush should say that he found oil on the moon to jump the stock market.

Mars.

Subject:
SENATOR COBURN, WHAT A SICK FORM OF CAPITALISM WE NOW HAVE

To:
Sen. Tom Coburn

July 24, 2008

We are being milked like cows through direct and indirect taxes and by the manipulation of regulations to bail out influential parties at the expense of responsible and conservative tax payers.

These actions by the Congress which are now expected to become law are outright handouts to Fannie and Freddie and makes me want to puke. CEO's being paid millions for complete incompetence.

The failure was too little government, not too much. Like most everything that's happened under Bush, it is proof of the failure of neo-conservatism. Also, the abolishment of the Glass Steagall act in 1999, by the help of then Sen. Gramm and ex-President Bill Clinton.

Why not now put Greenspan, who was also very instrumental in causing this sub prime mess, in charge of regulating FNM and FRE? Wouldn't that go along with the Bush philosophy of everyone having home ownership even if they can't afford it.

When has anything this devastating to our financial system happened since the great depression? Oh, I forgot about the 500 billion bail out of the Savings and Loan's with tax payers money during the first Bush Administration. Wasn't a fellow by the name of Neal Bush some how wrapped up in that scandal?

Oh. I am a conservative alright but not one that subscribes to many policies orchestrated by the Bush family.

I would think that you would have serious reservations about signing off on 300 billion dollars of tax payers money. Won't that just breed more incompetence?

Respectfully,

Hixson , TN

http://www.congress.org/congressorg/issuesact...

john k wrote:

this is pretty bad. san francisco earthquake put a run on the banks too. insurance companies didn't want to pay. they eventually paid some but they raised their rates. the market lost alot of money. not just here but in alot of other countries. what happened here is not nature. its wall street! these guys should be !@#$!

Properly run banks and insurance companies don't lose money. They just find another "fee" to charge their customers to make up for anything they lost.

If your bank has forty million customers nationwide, it will just send out a letter and tell you there is now a $25 annual fee to keep your current account/line of credit/credit card rate/whatever. If all customers pay this fee, your bank just raised a BILLION DOLLARS for the price of paper and postage.

If too many customers complain, they will get their banking buddies to do the same thing. Now those disgruntled customers have nowhere to go, so they will just have to fork over the $25 and be happy.

Think about all the "fees" these banks collect and do the math.$25 this year,$50 next year,$75 the year after. There is no end to the amount and type of fees they can charge for their "services". Just those fees alone exceed what they've lost on all the bad real estate loans.

Think about these things:

Does it really cost $39 to have a bank person put a stop on a check? Two seconds of keystrokes are worth that much?

How much do they make on late fees assessed when THEY hold your payment for two or three weeks and then charge you a late fee?

"overlimit fees" - why can't they just stop the transaction from going through? Years ago they wouldn't allow charges to go through if you were at your limit. They do it now so they can slap you with a nice fee.

That's only banks.

Now think about what insurance companies do. They take in trillions each year in the US alone and cry when they have to pay out for a handful of disasters. People who live miles away from "disaster areas" see their rates increase. They use "models" that tell them who they can soak for higher premiums. Nothing to do with risk anymore, just maximizing profits.

The bankers and insurance companies are always crying poor-mouth, but where is all this money going?

Finally a solution is at hand, Just be patient and the answer presents itself: I took this from yesterdays news; BAGHDAD, Iraq (CNN)-- The U.S. Embassy in Baghdad on Thursday announced a "special immigrant visa program" that provides "safe haven" for Iraqis whose lives are threatened because of their work for the United States.

The program makes 5,000 visas available each year for the next five years to Iraqis who are "under threat as a consequence of their employment by or on behalf of the U.S. government in Iraq," the embassy said in a statement on its Web site.

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The State Department says the new program is "completely distinct" from another visa program for translators and interpreters.

"With the launch of this special immigrant program, we take a significant step toward fulfilling our obligation of providing safe haven for those brave Iraqi citizens who risked their lives in order to serve the United States and a free Iraq," said U.S. Ambassador to Iraq Ryan Crocker.

"The tremendous sacrifices that they and their families have made deserve our recognition and support. I am pleased that this special immigrant visa program is now available to reward their loyal service to the United States."

The embassy statement said applicants must have been "employed in good standing by the U.S. government, or on behalf of the U.S. government, for at least one year after March 20, 2003. They must have experienced or be experiencing an ongoing serious threat as a result of U.S. government employment."

The embassy says "spouses and minor unmarried children of principal applicants are eligible for the same immigrant visa without counting toward the annual cap of 5,000 per year."

Iraqis working "for private contractors on behalf of the U.S. government are also eligible."

Yes all the "Uncle Toms" and "Collaborators" are coming to purchase homes in a neighborhood near you, no more "For Sale" signs in the front yards, wow, won't that be great?...They will be opening shops and building places to worship, Islamic schools will compete with public education(competition is what America is all about)...You see, there is a light at the end of the tunnel...Oh, with this mass exit(It's Vietnam replayed) of Iraqis means that our sons and daughter won't be far behind, BUT, for them it will be Afganistan, not the good ole, U.S. of A...

Gee, if you listen to the idiots on TOPIX, it's all Barack Obama's fault.

http://www.youtube.com/watch...

john k wrote:

this is pretty bad. san francisco earthquake put a run on the banks too. insurance companies didn't want to pay. they eventually paid some but they raised their rates. the market lost alot of money. not just here but in alot of other countries. what happened here is not nature. its wall street! these guys should be !@#$!

These "guys" are "Harvesting" as you do any crop...As the chattle of the corporation profit, the corporation(the U.S.) reaps their rewards...The invertor's job is to nurture these corporations...

http://www.congress.org/congressorg/bio/userl...

Helen Waite wrote:

Gee, if you listen to the idiots on TOPIX, it's all Barack Obama's fault.

There is a huge scapegoat industry in our country.

For example, in recent history, or since Bush got elected everything was Clinton's fault.

Before that everything was Bush Sr.'s fault.

On and on. They want the office but they don't want the heat or to accept responsibility.

If denial in our country was a commodity we would all be billionaires.

In Real Time wrote:

<quoted text>
There is a huge scapegoat industry in our country.
For example, in recent history, or since Bush got elected everything was Clinton's fault.
Before that everything was Bush Sr.'s fault.
On and on. They want the office but they don't want the heat or to accept responsibility.
If denial in our country was a commodity we would all be billionaires.

Yepper CIA Bush senoir.. this chit has to stop. All these old guard blue haired goats got to go.

CIA is a Jesuit Cabal. They herald themselves back to the KNights of Malta. lol. Thats Catholic, and the Black pope is the Pope behind the pope.

http://www.youtube.com/watch...

the CIA knew back in 1978 the Soviet Union was going belly up financially but withheld the intell so .........Reagan could say .... "GOBIE>>TEAR DOWN THIS WALL" lol the whole time the military indus. complex racked in billions.

http://www.youtube.com/watch...

Reagan opened FORMAL diplomatic relations with the VAtican in 1984 as the Jesuit DON JUan of Spain prez of olympic committee insured the Winter games were put in Sarajevo. In doing that he aligned America with the Vaticans agenda. Balkans war would soon follow, only we bombed the wrong people. But the new Nazi pope is so delighted................ and George W. Bush lubs him to. lol