Market Meldown

[Aiemond]

rocketpig said:

akuma587 said:

rocketpig said:

reask said:
Greenspan has said it is the worst he has seen in at least 50 years.

Thats pretty bad.

Well, I hope he's proud of his creation.

Come on, you can't blame the Fed for ALL the problems. Many banks were giving out housing loans to people they know were unlikely to be able to pay them. The Fed may have lowered those interest rates, but they didn't hold a gun to the loan companies' heads telling them to give loans to unqualified buyers.

And people who bought into the housing bubble are equally to blame.

 

Oh, the banks had their hand in this, too.

When I found out about the unconfirmed loans that were handed out, I almost shit myself.

It pisses me off to see them all get bailed out like this. I know it has to be done but fuck, we're really getting screwed here.

I agree. I think we see less getting bailed out (Bear had to be, market was not ready for it to fall) but i think WaMu wil be bailed. Sadly though, the govt did have to step in to save the market. The good news is that the Fed has a good chance of making some money off it as it got premium stock that should rise eventually.