U.s. Banking Crisis: Capitalism "gone Wild"?

[LaoPo]

Big Brothers are hungry...Big Brothers are growing..... real BIG....

White House considers ownership stakes in banks

By MARTIN CRUTSINGER – 1 hour ago

WASHINGTON (AP) — The Bush administration is considering taking ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis.

An administration official, who spoke on condition of anonymity because no decision has been made, said the $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return.

This official said all the new powers granted in the legislation were being considered as the administration seeks to deal with a serious credit crisis that has caused the biggest upheavals on Wall Street in seven decades and continues to roil global markets.

Supporters of this approach, such as Sen. Charles Schumer, D-N.Y., argue that injecting fresh capital into U.S. banks who want to participate in the program would be an effective way to bolster banks' balance sheets and get them to resume lending. Taxpayers would benefit because the government would receive an equity stake in the bank in return for providing the capital.

"This idea would, at a minimum, complement the administration's planned approach of buying up troubled assets and may prove to be the most promising tool of all in Secretary Paulson's kit," Schumer said in a statement.

Continues here:

http://ap.google.com/article/ALeqM5hQC8hiY...p2Oe2gD93MR1I80

AND..........

U.K. May Take 30% Stake in Banks on Bailout Plan, Analysts Say

By Poppy Trowbridge

Oct. 9 (Bloomberg) -- The British government may own as much as 30 percent of four of the country's biggest banks as part of the 50 billion-pound ($87 billion) lifeline announced yesterday, according to analysts at Sanford C. Bernstein Ltd.

Prime Minister Gordon Brown and Chancellor of the Exchequer Alastair Darling offered to buy preference shares to help boost capital at Royal Bank of Scotland Group Plc, Barclays Plc, Lloyds TSB Group Plc, HBOS Plc and four other lenders in the unprecedented rescue plan, which also includes emergency loans from the central bank.

``The rescue plan is a trade off,'' Bernstein analysts including Bruno Paulson in London wrote in a note to clients today. ``The capital raising implies dilution, with the government potentially taking 20 percent to 30 percent of the banks.''

Banks worldwide need more capital to offset losses. They posted $592 billion of writedowns since the credit crisis started last year, more than the $442.5 billion of new capital they raised, according to data compiled by Bloomberg. RBS may get as much as 8 billion pounds of the 20 billion pounds that Bernstein predicts the government will invest in four lenders.

RBS, Britain's third-biggest bank, gained 19 percent to 108.1 pence at 8:44 a.m. in London. HBOS, the country's biggest mortgage lender, rose 26 percent to 147.3 pence. Lloyds, the U.K. bank that agreed to buy HBOS, added 10 percent to 230 pence.

Brown's plan also guarantees about 250 billion pounds of loans and increases the amount the Bank of England makes available for banks to borrow to at least 200 billion pounds after the freeze in credit markets threatened to bring down the financial system.

U.S. Treasury Secretary Henry Paulson indicated that the U.S. may follow a similar plan to invest in banks as part of the $700 billion rescue package approved last month.

--Bloomberg

Like I mentioned before.....in the future every single worker is working for a Government, where ever you are; we will drive the same cars, living in the same houses, going on the same holidays, making the same salaries, flying the same planes, doing the same things...whatever they are

NOW YOU STILL CAN...................HAVE FUN

LaoPo

[AlexLah]

I have told you in the past and I will tell you in the future.

The first and second week, my words have been marked.

Follow the money and understand the 7th principle.

13 is the number and the next is 7.

Alex

If I'm correct you predicted something real bad would happen the first week of October; you were right; my compliments, not for the <deleted> but correctness. Other than that I thought the past few posts were written in Klingon language...and according to TV rules only English is allowed

What's the 13 and 7th ? Car to tell ?

LaoPo

You have to look deeper.

For example, the price of tea in China.

Keflavik

L-3 communications

Why would Russia want to help out Iceland?

Alex

[Naam]

if

one

post

like

this

is

that

a

sign

of

supreme

intelligence?

[Naam]

answering my own question: "NO it's not!" it only means that the poster has nothing really to say but tries to bullshit others by hitting the "enter" key thus making his posting look "important"

[Naam]

"Keflavík"

the global conspiracy right wing FAUX News followers have (potential) 4 billion dollars (peanuts) not only to chew on but the news provided nice phantasies too to assist them when they sit in their dark corner wanking.

[AlexLah]

Did you ever think of it before I mentioned?

I do not claim supreme intelligence.

But what I have said came true.

4 Billion Dollar is peanuts to you.

Is that in comparison of the recent announcment's made, or do you refer to your own wealth?

You do not see the whole picture.

As I said, 13 and 7.

Alex

[Naam]

4 billion dollars is indeed peanuts as Iceland's "whale oil banks" went on a shopping spree abroad and accumulated foreign currency debt of ~52 billion US-Dollars. GDP per annum is around 15 billion (estimated @ present devalued ISK). so if somebody tries to bullshit others with "Russia has bought Iceland with $4bb" i can only grimace and wonder what kind of blatant ignorance exists among earthlings.

[Naam]

Did you ever think of it before I mentioned?

I do not claim supreme intelligence.

But what I have said came true.

4 Billion Dollar is peanuts to you.

Is that in comparison of the recent announcment's made, or do you refer to your own wealth?

You do not see the whole picture.

As I said, 13 and 7.

Alex

i

cannot

see

the

whole

picture

on

my

screen

because

of

your

shitty

spacing

[ray23]

Maybe Paulson will teach them how to google Motel 6 before he is drawn and quartered.

Amazing that a company that large doesn't have a conference room.

Don't suppose Bush wants a vacation in Carmel do you? Maybe a visit with Dirt Harry would do the old boy some good.

Wonder if the really cancelled the resevations?

[ray23]

You know I really wonder if they will come up with anything to soften the blow. We are going to a world wide recession no dounb bt about ti. The best they can do is soften a bit. But getting all these people to agree, well we see.

G-7, With `Backs Against the Wall,' Weighs Loan Guarantee Plan

By Simon Kennedy

Oct. 10 (Bloomberg) -- Finance ministers and central bankers from the Group of Seven nations meet today facing a breakdown in investor confidence in their ability to end the credit freeze endangering the global economy.

Threatened by the worst economic outlook in a quarter century, officials arrived in Washington still without the broad- based strategy that investors were seeking, raising the risk of further turmoil if their remedies disappoint. Among the options being considered: a proposal by U.K. Chancellor Alistair Darling for nations to guarantee lending between banks, a suggestion that U.S. Treasury Secretary Henry Paulson hasn't ruled out.

Unprecedented interest-rate cuts and bank bailouts failed to quell panic in markets, leaving policy makers under pressure to pull even more policy levers. The Dow Jones Industrial Average yesterday plunged below 9,000 for the first time since 2003 and credit markets remained frozen.

``Global policy makers have their backs against the wall -- they have nowhere to run, nowhere to hide,'' said Marco Annunziata, chief economist at Unicredit MIB in London. ``Do not underestimate how hard they are going to fight back now.''

The officials from the U.S., Japan, Germany, U.K., France, Canada and Italy are gathering for the first time since the financial crisis intensified last month and spread more virulently beyond U.S. borders.

Emergency Meeting

The International Monetary Fund, which activated an emergency financing mechanism to aid countries that run into trouble, and the Financial Stability Forum held emergency talks yesterday with officials from 27 nations to discuss responses to the turbulence. Paulson helped lead the meeting.

G-7 officials are scheduled to release a joint statement at about 6 p.m. in Washington.

``This is an opportunity to make sure that they're all on the same track,'' said former Federal Reserve Chairman Paul Volcker. He urged that ``all of them now admit or all of them own up to the fact their own banks are going to need support,'' in an interview with PBS Television's Charlie Rose show.

Reflecting the seriousness of the crisis, President George W. Bush will meet with the G-7 in an echo of predecessor Bill Clinton's gathering with the group during a 1998 financial crisis. Officials from the broader Group of 20 will convene for a special meeting tomorrow.

Borrowing Costs

The G-7's dilemma is that even after a battery of policy actions, money markets remain gridlocked as banks shun lending to each other for fear they will lose the money or because they need it for their own funding needs. The cost of borrowing dollars for three months yesterday surged to the highest this year.

``Mistrust is set to persist,'' said Nick Stamenkovic, a fixed-income strategist in Edinburgh at RIA Capital Markets. ``While measures are moving in the right direction, reaction has been lukewarm at best.''

Policy makers are lining up more initiatives, yet run the risk that their new proposals appear piecemeal or lacking in ambition rather than providing the comprehensive and coordinated solution that investors want. Even as he sought an international approach in a news conference two days ago, Paulson said it might ``not make sense to have identical policies'' because each nation's circumstances differ.

``Governments must act now and decisively to restore confidence otherwise we are in for serious trouble and a long-run recession,'' said Moorad Choudhry, head of treasury at Europe Arab Bank Plc in London.

U.K. Plan

Darling wants countries to guarantee lending between banks, either by turning central banks into clearing houses for the loans or having governments back them. That would ``be an effective way of easing the crisis,'' said Marc Chandler, head of currency strategy at Brown Brothers Harriman & Co. in New York.

U.S. officials have played down the idea without dismissing it outright, expressing concern that the step would be biased against financial institutions outside the banking sector. France also questions the need to adopt Darling's plan, according to a French official.

Paulson already plans to follow Darling in another way by purchasing stakes in a wide range of banks within weeks, tapping authority included in the $700 billion rescue package passed by Congress last week.

Paulson and advisers were yesterday considering options on how the purchases would work, including having the government acquire preferred stock, two officials informed of the matter said.

The U.S. was also weighing a proposal to insure all U.S. bank deposits, the Wall Street Journal reported today. The plan was only at discussion stage and would be aimed at preventing an exodus of cash from financial institutions, the newspaper said. To remove the ceiling on deposit insurance government agencies would need to agree there was systemic risk to the economy, thereby invoking the legal power for action, the Journal reported.

Capital Injection

While the Treasury still aims to buy troubled mortgage- backed securities from financial institutions, a direct capital injection would offer more immediate relief by giving banks quick access to funds they could then lend out.

The U.K. is already engineering a 50 billion pound ($87 billion) strategy to partly nationalize at least eight British banks. Japanese lawmakers are also considering reviving a law that expired in March that would allow them to inject public money into regional financial companies.

``The financial system doesn't need more liquidity it needs more capital,'' said Jim Bianco, president of Bianco Research LLC in Chicago.

Other G-7 nations are wary of taking either step, with German Finance Minister Peer Steinbrueck arguing Germany's banks are sound. He has proposed the G-7 focus on overhauling regulations on executive pay, liquidity buffers at banks and complex financial instruments.

In a report published yesterday, University of California Berkeley economist Barry Eichengreen warned against a disjointed approach. ``The policy response needs to be decisive,'' he said. ``It needs to be global. The stakes could not be higher.''

To contact the reporters on this story: Simon Kennedy in Washington at [email protected];

Last Updated: October 10, 2008 02:36 EDT

[Lopburi99]

What an incredible mess, now worldwide. Every day more bad news, and usually worse than the day before. History-making financial chaos will likely continue to occur for months to come.

If I were Obama I would be asking myself, "Do I really WANT this job?"

Nobody on the planet can kill this multi-headed monster. Good luck Mr. President.

Edited October 10, 2008 by Lopburi99

[lannarebirth]

saving their own skin first, and letting the chips fall where they may.

https://www.donfishback.com/blog/2008/10/10...eally-happened/

[LaoPo]

MORGAN STANLEY, as I write MINUS 24%

LaoPo

[lannarebirth]

MORGAN STANLEY, as I write MINUS 24%

LaoPo

There's a growing sense, that the govt may absorb these banks Lao Po. Shareholders may be toast if that's the case.

[ace]

You know I really wonder if they will come up with anything to soften the blow. We are going to a world wide recession no dounb bt about ti. The best they can do is soften a bit. But getting all these people to agree, well we see.

G-7, With `Backs Against the Wall,' Weighs Loan Guarantee Plan

By Simon Kennedy

Oct. 10 (Bloomberg) -- Finance ministers and central bankers from the Group of Seven nations meet today facing a breakdown in investor confidence in their ability to end the credit freeze endangering the global economy.

Threatened by the worst economic outlook in a quarter century, officials arrived in Washington still without the broad- based strategy that investors were seeking, raising the risk of further turmoil if their remedies disappoint. Among the options being considered: a proposal by U.K. Chancellor Alistair Darling for nations to guarantee lending between banks, a suggestion that U.S. Treasury Secretary Henry Paulson hasn't ruled out.

........................

Can't let that pass the bullsh*t radar - Ministers, I know you're a bit thick, but try to understand - It is the worst crisis in 79 years. 79. Not 25.

[LaoPo]

MORGAN STANLEY, as I write MINUS 24%

LaoPo

There's a growing sense, that the govt may absorb these banks Lao Po. Shareholders may be toast if that's the case.

Yes, I know; Washington DC plus major other countries are doing the utmost to calm investors. We just have to see whether the Finance Ministers of the G7 (US, Japan, Britain, Germany, France, Italy and Canada) will be able to change the panic sentiment, tomorrow during their meeting.

In the meantime MORGAN STANLEY -MS- is down -37% as I write and that's huge; it remains to be seen if they're worth to be saved with a market cap. of -present- $ 8,8 Billion. That's a lot less than others like Goldman Sachs and Merrill Lynch but I suppose they can't afford to have another major player go down just before the elections.

LaoPo

[LaoPo]

MORGAN STANLEY, as I write MINUS 24%

LaoPo

There's a growing sense, that the govt may absorb these banks Lao Po. Shareholders may be toast if that's the case.

Yes, I know; Washington DC plus major other countries are doing the utmost to calm investors. We just have to see whether the Finance Ministers of the G7 (US, Japan, Britain, Germany, France, Italy and Canada) will be able to change the panic sentiment, tomorrow during their meeting.

In the meantime MORGAN STANLEY -MS- is down -37% as I write and that's huge; it remains to be seen if they're worth to be saved with a market cap. of -present- $ 8,8 Billion. That's a lot less than others like Goldman Sachs and Merrill Lynch but I suppose they can't afford to have another major player go down just before the elections.

LaoPo

MORGAN STANLEY -41%

LaoPo

[LaoPo]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

[AlexLah]

And if I tell you that this is just the beginning would you believe me?

I told you once and I told you twice.

13 and 7.

Let the game begin.

Alex

[PCA]

And if I tell you that this is just the beginning would you believe me?

I told you once and I told you twice.

13 and 7.

Let the game begin.

Alex

I hope you just smoked some crack bro as I have important things to do on Mon. Can we make it 14th?

[flying]

And if I tell you that this is just the beginning would you believe me?

I told you once and I told you twice.

13 and 7.

Let the game begin.

Alex

I hope you just smoked some crack bro as I have important things to do on Mon. Can we make it 14th?

Well it is Columbus Day & a Federal Holiday in the USA so ok .....all in favor of shifting the end of the world to the 14th say Aye

[OriginalPoster]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

Jimmy's been waiting almost 30 years for a president to finally make the Carter adminstration's economic stewardship look good in comparison. The present situation is a gift for him, finally he has an answer to the question that Reagan famously posed during one of the Carter-Reagan debates in 1980 of "are you better off now than you were four years ago?". If only Jimmy had the presence of mind to say, "maybe not, but you are better off now than you will be in 28 years", he might have been re-elected and we would have been spared all of this.

Edited October 10, 2008 by OriginalPoster

[VegasVic]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

Jimmy's been waiting almost 30 years for a president to finally make the Carter adminstration's economic stewardship look good in comparison. The present situation is a gift for him, finally he has an answer to the question that Reagan famously posed during one of the Carter-Reagan debates in 1980 of "are you better off now than you were four years ago?". If only Jimmy had the presence of mind to say, "maybe not, but you are better off now than you will be in 28 years", he might have been re-elected and we would have been spared all of this.

Leave it to lao po to take Mr.Peanut seriuously Jimmy didn't have a clue while he was in office and now he is well beyond clueless. Jimmy Carter was the worst President the U.S. has ever seen, his naive policies not only ruined the economy and caused interest rates to run to 15%+, but his naivete also ruined the U.S. intelligence network that had been built up since the end of WW2! Mr. Peanut as he is affectionately referred to in the states has been great at spurring on habitat for humanity housing, but beyond this noble work he is baisically ignored and written off by most Americans as just some senile kindly old man What will it be next lao, a nice exceprt from George soros and move on dot org crowd

[OriginalPoster]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

Jimmy's been waiting almost 30 years for a president to finally make the Carter adminstration's economic stewardship look good in comparison. The present situation is a gift for him, finally he has an answer to the question that Reagan famously posed during one of the Carter-Reagan debates in 1980 of "are you better off now than you were four years ago?". If only Jimmy had the presence of mind to say, "maybe not, but you are better off now than you will be in 28 years", he might have been re-elected and we would have been spared all of this.

Leave it to lao po to take Mr.Peanut seriuously Jimmy didn't have a clue while he was in office and now he is well beyond clueless. Jimmy Carter was the worst President the U.S. has ever seen, his naive policies not only ruined the economy and caused interest rates to run to 15%+, but his naivete also ruined the U.S. intelligence network that had been built up since the end of WW2! Mr. Peanut as he is affectionately referred to in the states has been great at spurring on habitat for humanity housing, but beyond this noble work he is baisically ignored and written off by most Americans as just some senile kindly old man What will it be next lao, a nice exceprt from George soros and move on dot org crowd

I still have a 6 pack of Billy Beer somewhere in my basement, how I miss those days.

Edited October 11, 2008 by OriginalPoster

[VegasVic]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

Jimmy's been waiting almost 30 years for a president to finally make the Carter adminstration's economic stewardship look good in comparison. The present situation is a gift for him, finally he has an answer to the question that Reagan famously posed during one of the Carter-Reagan debates in 1980 of "are you better off now than you were four years ago?". If only Jimmy had the presence of mind to say, "maybe not, but you are better off now than you will be in 28 years", he might have been re-elected and we would have been spared all of this.

Leave it to lao po to take Mr.Peanut seriuously Jimmy didn't have a clue while he was in office and now he is well beyond clueless. Jimmy Carter was the worst President the U.S. has ever seen, his naive policies not only ruined the economy and caused interest rates to run to 15%+, but his naivete also ruined the U.S. intelligence network that had been built up since the end of WW2! Mr. Peanut as he is affectionately referred to in the states has been great at spurring on habitat for humanity housing, but beyond this noble work he is baisically ignored and written off by most Americans as just some senile kindly old man What will it be next lao, a nice exceprt from George soros and move on dot org crowd

I still have a 6 pack of Billy Beer somewhere in my basement, how I miss those days.

Ah yes who could forget Billy beer It was one of only a few beers to give "old milwaukee" and "blatz" a run for their money as the worst beer in America

[ray23]

OOPPPSSSS!!!!!!!!!!!! they may have missed the silver bullet

G-7 Commit to `All Necessary Steps' to Stem Crisis (Update2)

By Simon Kennedy and John Brinsley

Oct. 10 (Bloomberg) -- The Group of Seven nations pledged to prevent the failure of key banks while stopping short of new initiatives to unfreeze credit markets.

``The current situation calls for urgent and exceptional action,'' the G-7's finance ministers and central bankers said in a 266-word statement after talks in Washington. Officials pledged to ``take all necessary steps to unfreeze credit and money markets'' without detailing how that would be accomplished.

With stocks falling and a global recession looming, the officials promised to ensure major banks have access to cash and are able to tap public funds for capital. By refraining from specific new measures, the G-7 fell short of some investors' calls for an agreement to guarantee loans between banks.

``Markets wanted to get a game plan from the G-7 and they haven't got that,'' said Sophia Drossos, a New York-based currency strategist at Morgan Stanley. ``There might be disappointment.''

Treasury Secretary Henry Paulson told reporters after the meeting it would be ``naive'' to think that different nations in different circumstances could come up with the same policy paths. He added that no banks were named in officials' discussions today.

Ministers and central bankers from the U.S., Japan, Germany, U.K., France, Canada and Italy convened after stock indexes this month plunged more than 20 percent from Japan to Europe to North America.

Market Panic

The G-7 was under pressure to roll out new policies to quell the panic in markets after its previous steps failed to do so. Instead, they outlined principles for all nations to follow.

``We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth,'' officials said.

In the past two weeks alone, global central banks executed emergency interest-rate cuts and pumped more cash into markets, the Federal Reserve said it would buy U.S. commercial paper, European governments bailed out banks and the U.K. and U.S. said they would start taking equity stakes in financial companies.

Money markets remain gridlocked even after those efforts, as banks shun lending to each other for fear they will lose the money or because they need it themselves. The resulting jump in borrowing costs is now strangling consumers and companies, prompting Merrill Lynch & Co. to predict the G-7 economies will be the weakest next year since 1982.

Stocks Slide

U.S. stocks fell for an eighth straight day, with the Dow capping its worst week since 1914. The MSCI World Index of equities in 23 developed countries slid 20 percent this week, the most since records began in 1970.

The G-7 officials shied away from endorsing a U.K. proposal to guarantee lending between banks either by turning central banks into clearing houses for the loans or having governments back them. They vowed to take steps that would give depositors confidence that their savings were safe and to restart secondary markets for mortgages and other securitized assets.

Paulson said the U.S. will buy equity in financial companies to restore market stability and ensure economic growth. He added that ``we have more to do in the liquidity area.''

The Treasury is ``working to develop a standardized program that is open to a broad array of financial institutions,'' Paulson said.

Currencies Message

While the joint statement made no mention of currencies, European Central Bank President Jean-Claude Trichet said the group viewed excess volatility in exchange rates as detrimental and urged China to allow faster gains in the yuan.

Highlighting the stakes facing the world economy, further talks to be held this weekend include a meeting of the G-7 officials with President George W. Bush, a gathering of policy makers from the Group of 20 and a summit of European leaders in Paris. Bush said today that the U.S. ``will continue to act to resolve this crisis and restore stability to our markets.''

Rifts within the G-7 were exposed by an unprecedented public split in which Italian Finance Minister Giulio Tremonti rejected a draft statement for being ``too weak.'' He said the ultimate text was very different from the original.

Earlier, Italian President Silvio Berlusconi sowed confusion by saying governments may close financial markets, only to reverse himself an hour later.

To contact the reporter on this story: Simon Kennedy in Washington at [email protected]; John Brinsley in Washington at [email protected]

Last Updated: October 10, 2008 19:36 EDT

[LaoPo]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

Jimmy's been waiting almost 30 years for a president to finally make the Carter adminstration's economic stewardship look good in comparison. The present situation is a gift for him, finally he has an answer to the question that Reagan famously posed during one of the Carter-Reagan debates in 1980 of "are you better off now than you were four years ago?". If only Jimmy had the presence of mind to say, "maybe not, but you are better off now than you will be in 28 years", he might have been re-elected and we would have been spared all of this.

Leave it to lao po to take Mr.Peanut seriuously Jimmy didn't have a clue while he was in office and now he is well beyond clueless. Jimmy Carter was the worst President the U.S. has ever seen, his naive policies not only ruined the economy and caused interest rates to run to 15%+, but his naivete also ruined the U.S. intelligence network that had been built up since the end of WW2! Mr. Peanut as he is affectionately referred to in the states has been great at spurring on habitat for humanity housing, but beyond this noble work he is baisically ignored and written off by most Americans as just some senile kindly old man What will it be next lao, a nice exceprt from George soros and move on dot org crowd

I notice you do not even understand my irony posts anymore Viccy; you're missing the points nowadays, don't you ? Doesn't matter Viccy, I understand with all that misery news around.

Most members here on TV are waiting for YOUR precise predictions again Viccy, like the ones that you predicted 1 to 2 years ago about the present crisis. Can you tell us again when you predicted those ? Can't find them anymore.

I also can't find your predictions anymore about the fall of the US automobile industry (GM -87% in 1 year), the US banking crisis and the companies that went under already...remember we used to chat about Countrywide Viccy (CFC)? Remember I told you that they could go lower and lower when they were around $ 18/19 ?

What happened Viccy ? Did you warn us that the DOW, NASDAQ and S&P500 would drop -40% within a year ? I didn't see any of those predictions from you Viccy ? Why not ? I mean, YOU are the expert, aren't you ?

I predicted the DOW would go down to 8,000 and guess what ? it even dropped 2 times below 8,000 today. I predicted Oil going down to $ 60/bbl...watch it, it will ! ..and I am not even an expert like you. You said it would stay between 80-90....

Send us your predictions again Viccy and teach us how to make money, ok ? Please ?

LaoPo

[VegasVic]

Ex-president Carter: "...the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

http://www.reuters.com/article/newsOne/idUSTRE4993TS20081010

I'm quite sure GWB doesn't agree....does he ?

Who ever it will be...I don't envy the NEW President of the United States...

LaoPo

Jimmy's been waiting almost 30 years for a president to finally make the Carter adminstration's economic stewardship look good in comparison. The present situation is a gift for him, finally he has an answer to the question that Reagan famously posed during one of the Carter-Reagan debates in 1980 of "are you better off now than you were four years ago?". If only Jimmy had the presence of mind to say, "maybe not, but you are better off now than you will be in 28 years", he might have been re-elected and we would have been spared all of this.

Leave it to lao po to take Mr.Peanut seriuously Jimmy didn't have a clue while he was in office and now he is well beyond clueless. Jimmy Carter was the worst President the U.S. has ever seen, his naive policies not only ruined the economy and caused interest rates to run to 15%+, but his naivete also ruined the U.S. intelligence network that had been built up since the end of WW2! Mr. Peanut as he is affectionately referred to in the states has been great at spurring on habitat for humanity housing, but beyond this noble work he is baisically ignored and written off by most Americans as just some senile kindly old man What will it be next lao, a nice exceprt from George soros and move on dot org crowd

I notice you do not even understand my irony posts anymore Viccy; you're missing the points nowadays, don't you ? Doesn't matter Viccy, I understand with all that misery news around.

Most members here on TV are waiting for YOUR precise predictions again Viccy, like the ones that you predicted 1 to 2 years ago about the present crisis. Can you tell us again when you predicted those ? Can't find them anymore.

I also can't find your predictions anymore about the fall of the US automobile industry (GM -87% in 1 year), the US banking crisis and the companies that went under already...remember we used to chat about Countrywide Viccy (CFC)? Remember I told you that they could go lower and lower when they were around $ 18/19 ?

What happened Viccy ? Did you warn us that the DOW, NASDAQ and S&P500 would drop -40% within a year ? I didn't see any of those predictions from you Viccy ? Why not ? I mean, YOU are the expert, aren't you ?

I predicted the DOW would go down to 8,000 and guess what ? it even dropped 2 times below 8,000 today. I predicted Oil going down to $ 60/bbl...watch it, it will ! ..and I am not even an expert like you. You said it would stay between 80-90....

Send us your predictions again Viccy and teach us how to make money, ok ? Please ?

LaoPo

Calm down there lao! I can't predict the price of each and every stock or idustry, but my predictions about the SSE, Oil, Gold and the dollar have all been SPOT ON ! Now push yourself away from that keyboard and have your boyfriend make you a nice strong drink and just relax there buddy.

[Naam]

Leave it to lao po to take Mr.Peanut seriuously Jimmy didn't have a clue while he was in office and now he is well beyond clueless. Jimmy Carter was the worst President the U.S. has ever seen, his naive policies not only ruined the economy and caused interest rates to run to 15%+, but his naivete also ruined the U.S. intelligence network that had been built up since the end of WW2! Mr. Peanut as he is affectionately referred to in the states has been great at spurring on habitat for humanity housing, but beyond this noble work he is baisically ignored and written off by most Americans as just some senile kindly old man What will it be next lao, a nice exceprt from George soros and move on dot org crowd

please forgive my audacity Honourable Vic of Vegas and let me [not so] humbly mention that it was 3-5 years after Jimmy under Rambo Reagan and the continuing stewardship of Paul Volcker when interest rates were raised skyhigh and had their peak.

and let me add: Jimmy did not waste hundreds of billions on "star wars" and hundreds of billions on other wars on the other side of the globe. the negative image however remains. Jimmy was never a victorious Commander in Chief like a few other presidents. Jimmy left the glorious victories of Grenada, Panama, Afghanistan and Iraq for his successors to rejoice.

[PCA]

Calm down there lao! I can't predict the price of each and every stock or idustry, but my predictions about the SSE, Oil, Gold and the dollar have all been SPOT ON ! Now push yourself away from that keyboard and have your boyfriend make you a nice strong drink and just relax there buddy.

now I know VV you have insider skills