http://www.businessweek.com/bwdaily/dnflash/content/mar2008/db20080316_356646.htm?campaign_id=yhoo 5th largest financial bank just got bought out for 2$. The stock closed at 30$ on friday. Shareholders just lost their asses. The company was trading at 170$ just las year.
They got the fifth largest investment bank for free basically, The fed covers $30 billion in loans while they are able to sell off what they can over time
Exactly! I guess its better it got its butt saved then to have it go bankrupt. The effect that would have had on Wall Street would have been catastrophic.
Ow thats sad! I don't know how long more US wanna stay in iraq. US economy is going downward no wonder my adsense income dropped 80%
LOL! Iraq is definitely contributing to our near recession economy. The price of oil per a barrel is at record highs (gas in Oregon is $3.40 a gallon. 10 years earlier in 1998 it was a $1 a gallon). Investors are flocking to gold (driving its price per ounce to record highs of $1000+). Our government trying its hardest to "stimulate" the economy. Its a shame we spend so much money to wage war. That money could have been spent on a national health care plan, higher education and/or bailing other financial institutions out of near bankruptcy. I am hopeful in November 2008 our people will elect a president that is not a warmonger. Then maybe, just maybe our adsense will be more lucrative.
Hopefully the American economy will stabilize pretty soon. Living in Europe but getting paid in USD I've seen my income drop 25% over the past 2 years...
Here is a very interesting article regarding the whole situation: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/12/cnfed112.xml&ref=patrick.net
The war in Iraq is NOT why economy is going down! If thats the case, this was is making its 4th year, why last yr it was a RECORD ecomony. I bank with Chase, Im glad they were the ones buying and not the ones selling. I wish they wouldnt have bought it, I do NOT like monopolies.
I've recently started banking with Chase. Where do you think that this monopoly is going to come from, just because they bought BS?
The price of 5 years of war has finally taken its toll on our economy. All the money our government spends on carrying on a war does have an effect on the economy. How was last year a record year for our economy? Gas prices started rising more, as oil went up. The whole "credit crunch" kicked in as the start of the recession began at the end of 2007. I have yet to hear anyone other than you tell me last year was a record year for our economy. It was quite a sluggish year.