Financial Woes - Page 2

**Arcángel** · 07-15-2008, 08:48 AM

So as I was flipping around the Internet radio dial today and I tuned into NewsRadio KNX 1070 in California. Looks as if they have one hell of a bank crisis there.

First, the story from KNX 1070's latest breaking news.

Angry Mob at Encino IndyMac
Police have been called in to tame an angry throng of IndyMac Bank customers trying to pull money out of the Encino branch on Day 2 of a federal bank takeover.

At least three police squad cars showed up early Tuesday as tensions got heated outside the San Fernando Valley branch of Pasadena-based IndyMac.

Federal regulators seized Pasadena-based IndyMac on Friday and they opened yesterday under the control of the Federal Deposit Insurance Corporation. Deposits to $100,000 are fully insured by the FDIC.

And now, KNX Business Hour 7.14.2008
KNX - KNX Business Hour 7.14.2008

Now, taking all of this into account, the fed is still saying that our financial system is "basically sound". What do you think?

**Arcángel** · 07-15-2008, 10:33 AM

*gasps* OPU! NOOOOOOOO!!!!

There is some truth to this though. How the hell does a $3.5 million surplus turn into the current deficit? lol

4n7hr4x · 07-16-2008, 09:07 AM

Am I the only one crazy enough to see the similarities between today and the months before the great depression in the 30's?

What with the run on the banks, the collapse of the markets... the rich elite spreading rumors causing a mass scale panic driving prices of everything to rock bottom so that they can go around and buy up all the businesses for pennies on the dollar... like the company that bought up the three big mortgage companies recently...

Was this all just a setup from the beginning, just like the great depression?

**Opunaya** · 07-16-2008, 09:27 AM

I think everyone's pointed that out...at least, around where I live, it's been pointed out.

Funny enough, things down here weren't that bad in the thirties, since everyone was already poor and most lived off the land by hunting and fishing.

GentleSpikeResort · 07-16-2008, 12:51 PM

I have a local town bank account and I feel safe with them. But could those banks be possibly affected as well?

**Opunaya** · 07-16-2008, 12:52 PM

If they're not affliated with Indy doubtful, unless you're talking about in general terms of the way things are.

GentleSpikeResort · 07-16-2008, 02:20 PM

Both.

But I'm pretty sure the bank I go to is not linked with IndyMac.

I R DANIEL (Sin · 07-16-2008, 08:48 PM

Quote:

Originally Posted by 4n7hr4x

Am I the only one crazy enough to see the similarities between today and the months before the great depression in the 30's?

What with the run on the banks, the collapse of the markets... the rich elite spreading rumors causing a mass scale panic driving prices of everything to rock bottom so that they can go around and buy up all the businesses for pennies on the dollar... like the company that bought up the three big mortgage companies recently...

Was this all just a setup from the beginning, just like the great depression?

yes, you are the only crazy one. because the media is making everything seem a lot worse than it actually is. i can assure you, the U.S. is in no way, shape, or form heading towards a great depression. economist argue even if we are in a recession or not.

and FYI, the great depression began in 1929.

and also, IndyMac is not a regular commercial bank. it's a bridge bank.

4n7hr4x · 07-17-2008, 01:41 PM

Quote:

Originally Posted by I R DANIEL (Sin

yes, you are the only crazy one. because the media is making everything seem a lot worse than it actually is. i can assure you, the U.S. is in no way, shape, or form heading towards a great depression. economist argue even if we are in a recession or not.

and FYI, the great depression began in 1929.

and also, IndyMac is not a regular commercial bank. it's a bridge bank.

If stand in front of a moving train and close your eyes and shut your ears, will the train still hit you?

**Arcángel** · 07-17-2008, 02:19 PM

I think what 4n7hr4x is trying to say is that, whatever has the potential of happening somewhere can definitely happen somewhere else. Sooo...yeaaaa....

**Brother of Yeshua** · 07-18-2008, 01:30 AM

Quote:

Originally Posted by I R DANIEL (Sin

yes, you are the only crazy one. because the media is making everything seem a lot worse than it actually is. i can assure you, the U.S. is in no way, shape, or form heading towards a great depression. economist argue even if we are in a recession or not.

and FYI, the great depression began in 1929.

and also, IndyMac is not a regular commercial bank. it's a bridge bank.

GO READ THIS including all the stuff it links to. Explore some more on your own if you want.

Anyway, that's some good reading to start with, then get back to us.

Also, how does your assurance outrank our opinions and the supporting evidence we present? Show me some news that doesn't show a weak economy. Oil has dropped twice in the last week because of a slowing US economy. Someone recently stated that the US is headed into a "deep recession" and not some douche like Harry Reid, someone who's actually an economist and qualified to make such statements. I'll dig it up if you really want to read it. Anyway, show me something that justifies your hypothesis.

He may have got the decade wrong, but he was right about the similarities. It's on an even larger scale now than it was then. We're globalized baby (almost completely now).

EDIT (hit post too soon)

Anheiser-Busch just got bought out by some European company. The American Beef Industry just got bought up by someone in Brazil to the tune of over 500 BILLION DOLLARS! Remember, these are the same people saying how much they suffered because of ethanol and feeding their cattle, meanwhile, their net worth and profits have been skyrocketing over the last 5 years, and they make half a trillion dollars off it, enough money to pay off approx 1/114 of our projected 53 trillion dollars in obligations we've made as a side note on our economic plight.

We've maxed out our credit cards and all the rich fuckers are abandoning ship and selling out to the monstrosity fascist communistic (you can have both at the same time, if you don't agree you can do your own homework for that one) global state that's forming and expanding each and every day.

Not to mention government bailout after government bailout after government bail out. That's OUR MONEY they're using to prop up false wealth and corrupted corporations. We're spending and spending and spending, and the general population sinks further and further into poverty, while the upper class, investing class, and political class grow in power and control of the resources at hand.

I'm not trying to be a doom and gloomer, but, well.....we're fucked.