Comments on: Stocks Plunge On Recession Fears

Dow Drops 733 Points As Fed Issues Gloomy Report, Retail Sales Show Steep Drop

[emelder]

My question is "when did he know the existence of this problem with Wall Street and the banks? Why didn''''t they recognize the issue sooner???

Posted by jss2003 at 07:17 PM

Exactly. That has been the problem with this (Republican) administration. A total lack of "provision" the critically important leadership quality that allows a leader to look ahead ... and sense what will be needed. W fails miserably in the whole area of provision. He has none. It''s Obama time ... Barack has this leadership quality of provision ... watch it again in tonight''s debate!

[jss2003]

Our beloved G.W. Bush was just now on TV stating everything will be alright. For who? He''s got to be kidding. He has less than 100 days in office and could truly care less as to what will happen to this country. My question is "when did he know the existence of this problem with Wall Street and the banks? Why didn''t they recognize the issue sooner???

[emelder]

Old school talking here: only two things have real value ... land, and people. Pick up real estate, if you can, and invest in young people and education, in general. Always pays off.

[lewiston14]

"free-trade" and "outsourcing".

Yea that helped alot. NAFTA. Simple solution make every product so expensive coming back to this country it no longer make any sense to make it anywhere then here plus a $50,000 tax on every job shipped somewhere else. Companies wont like it but if you have nothing left to buy they will like it even less. The bleeding has to stop first except we dont have a thing to say about it.

[lorinkundert]

So put the money that is being wasted back into the hands of the Taxpayers, with 20 to 40% of their incomes restored, they will spend more.

[lovesamerica]

what is with the ''mcblame,mcsame,brdgalina,jaylo,lolo *** why does everyone have to make up words,think you''re cute? It just is plain old stupid.No wonder so many living in our country can''t speak English...

[lewiston14]

sorry about the spelling. I just woke up as I saw no point of watching $10,000 of my stocks just vanish.

[lewiston14]

Every U.S. citizen holds 86,000 dollars of national debt.
Posted by Hacker11001

LOL They can bill me. (not making fun of you) Its going to drop and keep droping until somebody wakes up and figures if it keeps up there goes there jobs to. As I said in another post holiday business is going to be off 25%. You can count on that no matter what the "offical" are just like the number of people not working. If you work a single houre hour a week they consider you working. Another poaster said take the figure times 2.5 to get real numbers. I think he was right. You cant even buy a job around here as NY tries to trip 2 to 3 billion this year and looking forward to 8 billion in loss next year. Happy New Year

[mcv57]

If neither candidates are addressing the issue of "free-trade" and "outsourcing". Neither one will solve the problems in this trouble economy over the next four years and beyond.
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Posted by bellschotsch

They can''t! The trade treaty, international contracts
and globe monetary system would collapse overnite. That constitutes half of the U.S. Commerce and Banking system!

The only other choice the U.S. Government has is to pro-up a phony, credit machine called the Federal Reserve.

[david1737]

Global inter-dependency isn%u2019t a recent phenomenon: The Wall Street stock market crash of 1929 and the Great Depression affected the entire world and helped create the conditions for the rise of fascism in Europe.

[inventagod2]

Republicans, pack your stuff.

Cleanup crew coming to Washington!

[david1737]

Three weeks ago McCain still called for deregulation.

Within hours he changed his position 180 degrees.

Since then his campaign has been like a ship without a rudder.

[incog-nito]

It really makes me mad that 40% of the population doesn''''t pay taxes, plus all of the illegal immigrants. And the rest of us are going to be left paying for this. They should abolish the IRS, and implement a Flat Tax. The wealthier you are, the more you buy, the more taxes you spend. Plus individuals won''''t be able to write off everything under the sun. And all the illegals would have to pay in order to buy food and other necessary items.

Posted by staplesla at 05:53 PM : Oct 15, 2008

Better yet, abolish the income tax and implement a national sales tax. You don''t spend, you don''t pay tax. No need for a 401K plan, people''s savings are automatically tax-free. No more tax returns, lost hours and accountant fees. No special deductions for special interests.

[toolmangler-2009]

Some people never learn to keep their mouths shut. Unless you see flames, you never yell "Fire" in a crowded theater, it might just be some kids smoking in the balconey.

[latrocinor-2009]

Do executives really jump out of windows during financial collapses?

Posted by Hacker1100


Some do, most don''t.

[latrocinor-2009]

What did McCain learn from this?
Posted by david1737

His own wife didn''t want him to run and she''s more qualified and better suited to be president than anyone running!!

Until the hate drooling blamers and shamers and magical thinkers grow up I doubt any wonderful awesome really cool leader is going to want to be Pres or VP.

I wouldn''t want to run for SCAPEGOAT OF THE UNITED STATES either.

[staplesla]

It really makes me mad that 40% of the population doesn''t pay taxes, plus all of the illegal immigrants. And the rest of us are going to be left paying for this. They should abolish the IRS, and implement a Flat Tax. The wealthier you are, the more you buy, the more taxes you spend. Plus individuals won''t be able to write off everything under the sun. And all the illegals would have to pay in order to buy food and other necessary items.

[david1737]

McSubprime

McCain''''s choice for the Vice Chairman of his campaign caused the Subprime debacle and Enron when he slipped into an omnibus spending bill a provision called the Commodity Futures Modernization Act (CFMA), which prohibited any governmental regulation of credit default swaps, those insurance policies covering losses on securities in the event they went belly up. As the housing bubble ballooned, the face value of those swaps rose to a tidy $62 trillion. And as the housing bubble burst, those swaps became a massive pile of worthless paper, because no government agency had required the banks to set aside money to back them up. The CFMA also prohibited government regulation of the energy-trading market, which enabled Enron to nearly bankrupt the state of California before bankrupting itself.

[latrocinor-2009]

You are never a bad American for voting your beliefs. Posted by me4prezz at 05:24 PM : Oct 15, 2008

Exactly. That''s what made the USA a place that losers around the world hated and made their victims want to come here to be winners.

[david1737]

The template for the damage which deregulation causes lies in the Savings and Loan scandal of the late 1980s.

McCain and the Bush family were directly involved in the S&L scandal.

McCain was one of the Keating 5 and Charles Keatings business partner. (google it)

Neal, Jeb, Bush senior, and W were all involved as in the scandal as well.

What did McCain learn from this?

Fact McCain selected Phil Gramm (Mr. Subprime) to be the Vice Chairman of his campaign.