Comments on: The Next Banking Bomb?

CBS News Investigates: Credit Derivatives Comprise $54.6 Trillion Of Risk Among Few Banks Left Standing

[talk2chief]

No one seems to realize what is going on with the eoconomy and what the truth is. I follow the news and the economy everyday and i get reports directly from Washington.
Posted by hhusted

He emperor... your naked. Or, you are a fool following folly.

[hhusted]

Stick,

Are you against helping the poor. Are you so selfish that you only want to help yourself. It shows in your comments. Get a life and leave town. Go hide in a cave so you can take your greediness with you.

[hhusted]

No one seems to realize what is going on with the eoconomy and what the truth is. I follow the news and the economy everyday and i get reports directly from Washington. I know what the president is doing before even he knows. So don''t call me names or tell me anything you don''t know. You are only guessing and complaining.

I belong to a number of organizations, who are actually taking action to do something about this economy. The only problem is you have the stupid greedy yuppies on Wall Street, who aren''t mature enough to tie their own shoes, handle the finances and investments. No one the stock market crashed last week.

Not only that, but there are way too many amateur investors getting into the mix, getting scared over one report and it causes a boomerang effect.

Once the Democrats gain control again, this nation of ours will prosper as it did under every democratic present in the past.

[talk2chief]

No. It is because their medical bills were do high, they couldn''''t pay their mortgage like they used to. Something had to give. This was a given fact.
Posted by hhusted

Yeah and they had balloon or interest only mortgages, the stuff you listed is the catalyst for disaster.

[hhusted]

Stick,

You are an ***. You must be a Republican, for you are taking up for them. Wake up and smell the coffee sometimn. You''ll enjoy it better.

[hhusted]

Do you even know why peoples houses are being foreclosed on! It''''s because they never should have gotten the loans in the first place.

No. It is because their medical bills were do high, they couldn''t pay their mortgage like they used to. Something had to give. This was a given fact.

[talk2chief]

Whoever said that Clinton is the fault of where this economy is right now, are total idiots. Clinton was the best president we had. It is all Bush''''s fault and I can''''t wait for his term to end.
Posted by hhusted

Do you even know why peoples houses are being foreclosed on! It''s because they never should have gotten the loans in the first place.

[talk2chief]

talk2chief,
Hmmmm, I don''''''''t see Clinton''''''''s name on the Gramm-Leach-Billecy Act.

Care to guess which party had the majority in 1999? Hint, it was Gramm''''''''s.

Clinton was president jackass, he didn''t veto it! And if it was such a great law, why wont the democrats allow a congressional hearing into Freddy Mac and Fanny Mae? Because Clinton forced the congress to allow loans to people who should never get one, or he might have just have veto d the bill.

[jimlayton]

stick,

You may be right but Gramm''s deregulation bill sure didn''t help.

This is scary. 92% of 54 Trillion held by 3 companies? And the trading is unregulated?

[hhusted]

Whoever said that Clinton is the fault of where this economy is right now, are total idiots. Clinton was the best president we had. It is all Bush''s fault and I can''t wait for his term to end.

[jimlayton]

talk2chief,

Hmmmm, I don''t see Clinton''s name on the Gramm-Leach-Billecy Act.

Care to guess which party had the majority in 1999? Hint, it was Gramm''s.

[talk2chief]

Thanks, Phil Gramm (McCain''''s economic advisor) for that 1999 deregulation act bearing your name.

Posted by jiml1956

Yeah! That''s Bill Clinton for signing it into law. Great job. Lets also not leave out the democratic congress from blocking Freddy Mac and Fanny Mae congressional hearings. Way to go!

[u-r-right]

More smoke and mirrors. And I hope a large number of cronies in the Bush administration are held accountable over this before the "bomb" detonates. They were warned.

[jimlayton]

Thanks, Phil Gramm (McCain''s economic advisor) for that 1999 deregulation act bearing your name.

[sandinyc]

This isn''t the "next" big bomb. It is THE bomb that has already exploded. Subprime gets all the print because it is the underlying asset class that burst first.

[jsl45]

George Bush, the Herbert Hoover of the 21st Century....what a disaster....!!

[sandinyc]

This isn''t the "next" big bomb. It is THE bomb that has already exploded. Subprime gets all the print because it is the underlying asset class that burst first.

[cdbasher]

Think Obama knows more about economics then all of Europe?

What does European nations know that Obama does not???? Think about it..

http://www.cato.org/pubs/tbb/tbb_0707_48.pdf

[wntrpls]

Who is Obama trying to B.S.? Everyone under his Tax Plan is getting a big Tax Increase.By the way with the Obama increase taxes on Energy the price to fly from one city to another will go up dramatically. What happens as a result of Obama''s tax increase to the energy policies.

What about how we move products by rail and over our highways. Well just wait for Obama?s tax policy on the Energy companies. Small business will not be able to ship product across the country. To do so will mean passing on the increase taxes on Energy Companies to the consumers who will purchase less. Wholesale Orders will drop dramatically as a result in the decline in retail sales. Who will also of this affect? Well with higher prices resulting in fewer orders and fewer products being produced is prepared for Obama?s unemployment figures. Trucking companies will need fewer drivers; factories will follow the Airlines and lay off employees to adjust to the Obama economics which resulted in a reduction of new orders wholesale orders to the factories. At the retail level with less sales small business, which is the engine that runs the American Economy, with either go out of Business or drastically cut back on employees (clerks, warehouse personnel, drivers, sales personnel.)

This is just the beginning. Welcome to the Obama Depression. By the way Obama is not taxing us more but he also increase the federal budget by trillions of dollars. Obama is an economic disaster waiting to happen.

[goforitin08]

OF COURSE THE BILL WAS PHIL GRAMMS, MCCAINS GENIUS
BUT REPUBS DONT LIKE TO MENTION THAT. AS BAD AS RISKY MORTGAGES WERE, THEY COULD HAVE BEEN ABSORBED, NOT THESE. IT ALLOWED WALL STREET TO BECOME LAS VEGAS EAST. I''D ALSO LIKE TO KNOW IN 2004 UNDER GOP HOUSES,
SEC ALLOWED 5 COMPANIES TO BE EXEMPT FROM BALANCE SHEET LAW. INSTEAD OF MAX OF 12 TO 1 THEY WERE RUNNING
UP TO 40 TO 1. THEY WERE LEHMAN,BEAR STEARNS, MERRILL
MORGAN STANLEY, AND GOLDMAN. THIS DEFIES LOGIC AND PURE INSANITY.ITS CRIMINAL TO THE SHAREHOLDERS.