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Geitner announces bailout plan and Dow plunges 300...

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Obama said that he must be confirmed, our whole economy depends on it .

 

I was just watching a show on TV. The economists , bankers and Wall Street are calling his plan a disaster.40.gif They said they think his neck is on the line for coming up with this piss poor plan.

 

These folks were beating him up terribly. Meanwhile he was the next person up to be interviewed and was sitting off stage in a room listening to all of this.cwm27.gif

 

That had to be a little unnerving to say the least.40.gif

 

 

Dennissmile.gif

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View PostEverything is just dreamy. It was well known before Obama won election that things were bad and getting worse. Why is it such a surprise now?

 

you missed the boat - again...

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Here's some math that's likely going through Mr. Geitner's head as of late.

 

Global notional amount of credit default swaps outstanding:

 

$1.4 Quadrillion.

 

Estimated value at risk of loss:

 

Who the **** knows. cwm27.gif

 

Take a stab at guessing you spineless wanker:

 

0.5% of $1.4 quadrillion = $7 trillion.

 

What else is out there:

 

$7 trillion does NOT include losses from supbrime residential mortgages, credit cards, student loans, auto loans, commercial real estate, commercial loans, and other nasty derivatives contracts. Throw in a few more trillion. cwm27.gif

 

p.s. if you don't understand what all this means ... it means u.s. banks as a whole are effectively insolvent.

 

 

ostrich-head.jpg

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View PostHere's some math that's likely going through Mr. Geitner's head as of late.

 

Global notional amount of credit default swaps outstanding:

 

$1.4 Quadrillion.

 

Estimated value at risk of loss:

 

Who the **** knows. cwm27.gif

 

Take a stab at guessing you spineless wanker:

 

0.5% of $1.4 quadrillion = $7 trillion.

 

What else is out there:

 

$7 trillion does NOT include losses from supbrime residential mortgages, credit cards, student loans, auto loans, commercial real estate, commercial loans, and other nasty derivatives contracts. Throw in a few more trillion. cwm27.gif

 

p.s. if you don't understand what all this means ... it means u.s. banks as a whole are effectively insolvent.

 

 

ostrich-head.jpg

 

 

And my wife thinks I'm nuts for wanting to sell our house, rent a place, invest the difference in physical gold, and swoop in after everything is decimated.

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View Postyou missed the boat - again...

 

 

Then you tell me what is the right way to go? There seems to be no consensus by all the experts yet you claim to know the Stimulus Plan is dead wrong then tell us the right way Plugged?

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