$700 Billion Bailout for Financial Firms

**IceHammer** · 09-29-08, 10:11 PM

http://money.aol.com/news/articles/_...ord-778/193927

Lost 684 on sept 11. 777 is the largest drop ever pts wise, but not percentage wise. For example, the 777 pts today was less than 7% and it dropped 20% on Black Monday in 1987.

**IceHammer** · 09-29-08, 10:15 PM

Originally Posted by rock_lobster

Originally Posted by IceHammer

If Obama is a clown what does that make McCain? A 4 year old with a temper? At least Obama can conduct himself like an adult and talks coherently about the issues at hand.

Obama has been highly touted for his ability to speak well. Wonderful, now lets move onto qualities that actually matter in a presidential candidate.

Like the ability to speak.....or understand a fundamental piece of technology, like a computer.....

**SapiensErus** · 09-29-08, 10:18 PM

Originally Posted by IceHammer

http://money.aol.com/news/articles/_...ord-778/193927

Lost 684 on sept 11. 777 is the largest drop ever pts wise, but not percentage wise. For example, the 777 pts today was less than 7% and it dropped 20% on Black Monday in 1987.

Considering the dow was 14,164 on October 9, 2007, it has decreased almost 27% in one year.  That is a significant decrease.  And a good chunk of that decrease happened recently, not just today.

EDIT:  I woke up this morning and realized I had made a math blunder...how embarrassing for me.  But considering people call me out for my political choices I am really surprised no one called me out on such an egregious and obvious real error...

**Rooster050** · 09-29-08, 10:40 PM

Originally Posted by Muqtar SGT_Clintok

So, if we were to apply reverse logic it would play out like this.

You owe the bank 300,000 on your mortgage. The bank is FDIC backed.
The bank fails. You are only liable for 100,000 of that mortgage. 200,00 blackholed.

Yea if the banks were honest. If we were truly the greatest country the world

**MotoZ** · 09-29-08, 10:51 PM

Originally Posted by IceHammer

it dropped 20% on Black Monday in 1987.

Dudes panicked and jumped out windows that day. Even then, the market recovered.

That how I measure if the market is bad. If the money men aren't jumping out windows then it's not bad. And even if they are, then it's not bad.

**rock_lobster** · 09-30-08, 12:23 AM

Originally Posted by Rooster050

Originally Posted by Muqtar SGT_Clintok

So, if we were to apply reverse logic it would play out like this.

You owe the bank 300,000 on your mortgage. The bank is FDIC backed.
The bank fails. You are only liable for 100,000 of that mortgage. 200,00 blackholed.

Yea if the banks were honest. If we were truly the greatest country the world

You seem to have a large amount of disdain for this country, any reason?

**MotoZ** · 09-30-08, 12:39 AM

Maybe because we owe the world a few trillion dollars and we haven't built an economy that can pay it back. Or maybe becasue our education produces some of the numbest minds in the civilized world. Another reason might be that we are generally xenophobic. Or that we use more than our fair share of the world's energy just to move our fat asses around. Maybe its because our health care costs are outrageous and we don't have much, if anything, to show for it in terms of happiness, wellness, and life expectancy. Or maybe all of the above.

I dunno. Just trying to guess what the answer might be.

**Potemkine** · 09-30-08, 12:45 AM

so lets see here. Some of us agree with Hobbes and others Locke mighty interesting philosophically.

**MotoZ** · 09-30-08, 12:55 AM

I'm liking this Locke guy already.

Labor creates property, but it also does contain limits to its accumulation: man’s capacity to produce and man’s capacity to consume. According to Locke, unused property is waste and an offense against nature.

**Veovis** · 09-30-08, 01:01 AM

Originally Posted by rock_lobster

Originally Posted by Rooster050

Yea if the banks were honest. If we were truly the greatest country the world

You seem to have a large amount of disdain for this country, any reason?

It looks to me like one of his reasons is that the banks are dishonest.

Originally Posted by ebaconjr

Or maybe becasue our education produces some of the numbest minds in the civilized world. Another reason might be that we are generally xenophobic. Or that we use more than our fair share of the world's energy just to move our fat asses around.

You seem to have a large amount of disdain for numb-minded, energy-wasting fatasses... any reason?