The key players in the financial crash
Five years ago -- on Sept. 15, 2008 -- Lehman Brothers collapsed, bringing the housing crisis to a head, forcing the bank bailouts and escalating an economic crunch we still feel today. Here are the key players.
VIDEO ON MSN MONEY
From Wall Street To Washington:
Do you remember the Price is Right show,
Do you remember the game where you guess the price of the item as a little man is climbing up the mountain top while he's yodeling, and if you guess wrong the little man falls of the top of the mountain.. That's us ....
We're "17 trillion in debt and still climbing". Here comes the fall..
Both Obama, Bush, and Congress were fully aware of this and refused to do anything about it. Therefore, they are all just as guilty. Uncle Ben get's to retire while only putting Fuel on the Fire. The Global FEDS are trapped, the Global Stock Markets just haven't realized it yet.
1) No one is going to flip through 26 pages, Charley. Time for you to pry your lips from the butt of your media god boss.
2) Players-- In October 1998, the credit facilities of all the major mortgage companies blowing away all banks in credit production and portfolio quality were pulled. A year later, what was left of them were bought by major banks for pennies. Extraneous staff was severed, key staff were water-boarded until they surrendered what they knew and then thrown off the high-rises to their death. Banks exploited the product info, ignored the quality and by 2007 had driven mortgage lending to ruin.
A year later, those same banks did the same thing to the Merrill Lynch and Bear Stearns crowd, BUT- got Bernanke to begin QE. The same brain drain took place but a Can't-Lose scenario was welded in place and remains there today. Banks have no competition and a monopoly on services BUT can't do any of them well-enough to stop the QE. In a sense... BANKS are the dead cat and insanity keeps propping them up time and again expecting them to meow or prowl or anything that real cats do... but they can't... they're dead... and filled with bankers who are dead weight and our REAL anarchists. The POTUS wants to blow a country up tomorrow so BANKS can prey on whole nations now that all sector arenas are destroyed.
3) When do we wake up... close the banks, end the Federal Reserve and get RID of Wall Street?
So sure, there will be some, including Obama, that will stick their heads in the Sand and behave as if all is well. However, it's not yet the Doom and Gloom voiced by some because of a given Agenda. Clearly, its' hardly a bed of Roses. The state of the Economy isn't always reflected by how well Stock Markets are doing.
Well this is all very nice; a little concise history of the financial crisis written in the past tense as if it was over; as if we dodged a bullet; as if we can all take a deep breath; utter a sigh of relief, look back on it and say' phew, that was close.' If you believe that, you either have your investing head buried so deeply in the sand that you must be able to see China from there, or, as the Bible says,' you have heaped to yourselves teachers having itching ears'. You believe the lies, swindles, accounting fraud, manipulated data and that any of the 'money' you are making now actually exists. Here is what you actually have: Imagine if you will that you take a black balloon, blow it up and call it a bowling ball. it looks something like a bowling ball; black, round, shiny. You could convince yourself that it is, indeed, a bowling ball. You can think of actual wealth as a real bowling ball. It is black round and shiny. It really exists. Now take your balloon of pretend wealth and the bowling ball of actual wealth and take the Pin of Reality and prick them both.
Hmmm...the actual, real wealth is still here and the pretend, conjured Wall Street wealth goes..POP.
Now, I know you all think you have a real bowling ball sitting in your 'portfolio's,' but, most assuredly, you do not. Sorry.
It’s a time for REAL change in this country… Change that matters (we’ve heard that before right? You can’t blame a guy for trying)
We need to step back and re-trench and come out stronger than ever.
We need to lead by EXAMPLE
Globalization and technology have changed the game and we need to use them to our advantage.
How many times have we all sat down at night to watch the news and seen things that have been caused by our inability to lead… they are countless. Leaders sitting around tables discussing REACTIVE issues rather than pro-active issues.
THE PRO-ACTIVE issues in this country are TWO and TWO ONLY all other things will fix themselves
(1) Manufacturing Jobs (JOBS)
Will solve revenue issues and a ton of social issues (including lack of education)
(2) Energy independence
Will help us lead by example (clean energy)
By concentrating on the above two issues we will create self-sufficiently and show the world we can lead by example. The best in brightest should be put to the task of
CLEAN MANUFACTURING—(example-3d printing should be taken to the next level)
Remember no matter what anyone else SAYS those TWO things will fix everything else
THINK ABOUT IT!
GOD BLESS AMERICA! PATRIOTISM IS A WONDERFUL THING! MOVE FORWARD!
It's truly amazing how some footballs teams, can't hold a big lead. Tony Romo for the Cowboys, same old same old. Same bad decisions at the end of a game. Same bad Defense that couldn't stop your Grandmother. Amazing what 6 turnovers will do for the other team. Amazing what printing to Infinity can do for Global Stock Markets.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages ended the midweek session with slim gains after showing some intraday volatility in reaction to the release of the latest policy directive from the Federal Open Market Committee. The S&P 500 added 0.1%, while the relative strength among small caps sent the Russell 2000 higher by 0.3%.
Equities spent the first half of the session near their flat lines as participants stuck to the sidelines ahead of the FOMC statement, which conveyed no changes to the ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'