I think this is the fault of the banks and the greed of traders. I don't feel sorry for the traders who lost their jobs just the staff who work in the bank in things like catering.

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The sickening part is that the executives who were in charge of these corporations will each walk away with millions and absolutely no remorse over the mess they've made, the cost taxpayers will have to pay to fix it, and with little or no fear that they'll be prosecuted for driving these institutions into bankruptcy with their greed.

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Reality. It's not for everyone.
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Brian--Age 42, diagnosed at 14. Mostly CP's, occasionally a T-C. On Dilantin & now Zonegran & Trileptal. Averaging 3 seizures a week. Lost my job and my driving privileges; My wife, my daughter, my pet dog Tom, and God make it bearable! Philippians 4:13!

I agree with you there. I was watching the local BBC News and I can tell you that my heart did not bleed for the traders on six figures who found themselves out of a job. It was due to their own greed and it is about time that they suffered for what they have done.

I was watching BBC News last night and one economist said he has been warning about this for years but no one took any notice of it.

What should happen is that all the traders and the people who ran those places should have their money seized by the respective governments. It is about time they suffered for what they have done.

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Edited: 09/17/2008 at 03:32 PM by abdul

I know a lot of people dont like this 'taxpayer bailout'. i dont know which is worse though... having a taxpayer bailout or having companies that WILL ONLY BUY at rock bottom prices (like Bank of America did).

I dont think its a good thing to have 'bottom feeder' companies owning large parts of the financial network. morality in business is needed.

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David

"Things are always changing. Just look at traffic lights"

Obamas inauguration drew over 2 million people. That must have taken a lot of pencils.

Earthquake Watch

Nothing like preditory and irresponsible lending and making it easier. Prolly has nothing to do with why things are the way they are now, its kinda like selling peoples debt's to smaller bottom feeders instead of dealing with it themselves.

If they have lost face defeat and die, don't keep giving them breaks and ways to get out with the peoples money. You can only take advatage of people for so long before the people say heck with you and your limitless prusits to steal every penny they can from the general population.

Fight the power and break the chains of government that bind us and protect the real thieves!!

I would rather prefer the banks buying each other out then the tax payer paying for it.

It is ironic that the head of Morgan Stanley is complaining about short selling consider that investment bankers are not the sharpest tools in the box.

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Lafora discussion group
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I just wish there was a better way for the average person to protect himself. I'm looking to retire in about 25 years and I haven't even STARTED saving for my retirement yet. I'm too afraid to....I can't bring myself to risk putting away a chunk of money out of every pay check only to risk ending up broke when I finally need the money. That's what happened to my mother.....the retirement fund her employer sponsored ended up being sunk by junk bonds. She lost almost everything she saved from the time she was 52 to 60. The only money she had when she retired at 65 was what she was able to save in those last 5 years.

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"My male roommate and I mixed up our nicotine and testosterone patches. He got cranky and hungry. I got a raise and a corner office" -- Karen Ripley
====================================
Phenytoin and Calcium Supplements
Sometimes the old-fashioned cures DO work the best!

It's awful Kathy. I bet the people behind the fund got a big fat pay check.

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Lafora discussion group
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Ugh. I am about to make the final payments on my own credit card this week. Thankfully, I don't own anything, otherwise I'd be screwed. It really is a hard time right now...

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Cassie, 25 year old Epileptic. Adult onset E. Keppra, 10mgs Celexa.
"I found Jesus today. He was hiding in my trunk when I got back from Tijuana."

I understand that fannie and Freddie and possibly others (Lehman , AIG) all tried to get financial a.ssisstance from the private equity firms that have REALLY profited as of late and they were all turned down. Now taxpayers pay.

I swear I dont know what the answers are. more regulation is needed to prevent this kind of thing in the first place ( or at least lessen its likelihood)

the phrase "privitization of profit, socialization of loss" is very clear.

McCain says Christopher Cox should be fired. that sounds good to me. He should never have been put in charge in the first place. Hes one of those 'hands off -- the mice will keep themselves in check" kind of 'leaders?'

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David

"Things are always changing. Just look at traffic lights"

Obamas inauguration drew over 2 million people. That must have taken a lot of pencils.

Earthquake Watch

Edited: 09/18/2008 at 11:29 PM by CrazyDiamond

That is the problem. The bankers were greedy and acting stupid and the regulators were sleeping on the job. I personally freel that a lot of people on both sides should be fired and the m*****ive bonuses seized by the authorities.

As for the long term they need to change the bonus culture and hold people responible and ban most of the stupid practices.

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Lafora discussion group
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Geneticslinks

Won't all this lending of money cause trouble for the US economy?

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Lafora discussion group
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Horrorhamlets
Geneticslinks

Edited: 09/19/2008 at 03:15 PM by abdul

We dont have any money.

all we have is debt.

We are 'owned' by a plethora of foreign nations. One might say we are controlled by some of them. One might say more but I wont right now.

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David

"Things are always changing. Just look at traffic lights"

Obamas inauguration drew over 2 million people. That must have taken a lot of pencils.

Earthquake Watch

I was going to say, What US Economy? Dave is right. Our money is being taken care of by other foreign countries at this time. We even have to sell estate just to stay above water at this moment.

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I've had epilepsy since age 4. I have complex-partial seizures. I've participated in researching medicine and have had brain surgery twice. I'm now taking Keppra, Zonegran, Depekote ER and Paxil. I'm still having seizures, but not as often as what I was having before surgery<BR><BR>my story on how I got epilepsy

Edited: 09/19/2008 at 03:45 PM by beckyboo

You're right, the US is in debt big time. A large majority of Americans are. When we bought our house in this development 10 years ago, we paid $204,000. Four years ago our neighbors sold the exact kind of house as ours for $505,000 (same size, same age, same upgrades.) That family made $300,000!

Here's the sad part. The people that bought that house for $505,000 had to move and the house sat on the market for the past year. It finally sold (2 months ago), for $300,000! That family lost big bucks. The housing market was gouged by banks giving loans to every one and letting them get into mortgages way over their heads.

My husband and I are buckling down and not charging anything. We've got way to much credit card debt. Like most Americans, we are spoiled.

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I had my first seizure when I was 35 yrs old. Tried many meds, nothing worked. Diagnosed with post-traumatic epilepsy from a very bad head injury as a child. Had a left-temporal lobectomy when I was 38. Have been seizure free, (except for some auras at certain times of the month.) I still take lamictal 300mg a day, Serafem 20mg 1x day. I always remember: "I can do all things through Christ who strengthens me..."

Due to the wars and the debts the US economy is not a productive one and is in fact going backwards whilst countries like China move forward.

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Lafora discussion group
Fund raising lafora
Horrorhamlets
Geneticslinks

If we were short on cash, we would pick up a few extra shifts. (Hubby is a nurse too.) Now, not only am I cancelled one shift at least once every paycheck, but there are no extra shifts to be had. Traditionally, staff nurses had it made. This is the first time this has happened since I graduated in '91.

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Then during the summer we were told we are only going to receive 1/2 of our merit raise.

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The sad part is that I am just grateful to have a job. (Not complaining here, just telling it like it is.)

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Donna

Mom to Matthew 16, Colleen 14, and Kyle (Boogs) 11.
Meet us

Sorry why are not getting extra shifts?

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Lafora discussion group
Fund raising lafora
Horrorhamlets
Geneticslinks

I think you can see it playing itself out everywhere in the markets.

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6 mgs. Clonazepam, 300-400 mgs. Seroquel, 10 mgs. Zolpidem Tartrate, 7.5 mgs. Dronabinol

In what ways as the market seems to go up and down. I have that they are spending trillions to save the markets. I hope the federal government does not go under.

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Lafora discussion group
Fund raising lafora
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Geneticslinks

Edited: 09/21/2008 at 02:57 AM by abdul