lordmandeep
Banned
The only bank with a 5% chance of failing is CIBC and they are the worst bank anyways.
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- Thread starter BobBob
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dt_toronto_geek
Superstar
McCain wants to postpone Friday's debate & suspends campaigning to focus on the financial meltdown
McCain statement today: "America this week faces an historic crisis in our financial system. We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees. If we do not act, ever corner of our country will be impacted. We cannot allow this to happen".
Bush to address the nation in a 12-14 minute speech to discuss, and explain the beleaguered financial industry, tonight at 9pm
McCain statement today: "America this week faces an historic crisis in our financial system. We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees. If we do not act, ever corner of our country will be impacted. We cannot allow this to happen".
Bush to address the nation in a 12-14 minute speech to discuss, and explain the beleaguered financial industry, tonight at 9pm
kEiThZ
Superstar
If it's anything like his statements during his conference explaining the bailout, it'll be a laugh riot....
Observer Walt
Senior Member
I hope Cuzzin doesn't have too many people listenng to his poorly informed rant.
I have sometimes wondered why they didn't put wheels under that statue of the bull, so it could be rolled out of sight when the bear appears.
I have sometimes wondered why they didn't put wheels under that statue of the bull, so it could be rolled out of sight when the bear appears.
kEiThZ
Superstar
"Better to keep your mouth closed and be thought a fool, than to open it and remove all doubt."
You should see his rants on Afghanistan....truly...ummm enlightening.
jade_lee
Active Member
>one of the most devastating crises in U.S. history is laying waste to the pillars of Wall Street with a swiftness that has tested the limits of incredulity, if not dire superlative: Lehman Brothers, a 158-year-old firm that weathered the Civil War and the Panic of 1907, among other calamities, has crumbled in an inglorious heap. Ditto Bear Stearns, which famously sailed through the Crash of 1929 without firing a single employee. There is now persistent talk that Goldman Sachs and Morgan Stanley, those twin fortresses of impregnability, may have to abandon their independence if they are not spared first by an unprecedented government bailout effort.
Very scary. This sub-prime debacle is a $ 700 billion mistake. They should parade those people responsible for this mistake. Remember the fake economies of the 90's? The dot.com bubble? You are staring at the US. economy going down the drain. If the U.S. sneezes, we(Canada) catches a flu. This time the US is suffering from a major pneumonia and Canada is drinking beer and singing karaoke in the village pub. I hope. Harper says we are safe, Harper is one foolish man if he thinks this to be true. American government's new mantra......bad business should be rewarded because it's big business. I notice the FBI is now investigating....nice spin but the rich and dangerous are all about spin these days as they know they are about to get caught but they also know how easy it is to move to south America or to other hide aways that lust for their visits. Welcome to a geopolitical shift, the king is dead, long live the king!
September 24, 2008 at 6:58 PM EDT
TORONTO — Merrill Lynch Canada Inc. is challenging the prevailing view that Canada's housing and mortgage markets are more stable than their U.S. counterparts, warning that households in this country are so indebted that it's only a matter of time before we see a major downturn here as well.>>>does this sound true? You bet it does!!!!!
Very scary. This sub-prime debacle is a $ 700 billion mistake. They should parade those people responsible for this mistake. Remember the fake economies of the 90's? The dot.com bubble? You are staring at the US. economy going down the drain. If the U.S. sneezes, we(Canada) catches a flu. This time the US is suffering from a major pneumonia and Canada is drinking beer and singing karaoke in the village pub. I hope. Harper says we are safe, Harper is one foolish man if he thinks this to be true. American government's new mantra......bad business should be rewarded because it's big business. I notice the FBI is now investigating....nice spin but the rich and dangerous are all about spin these days as they know they are about to get caught but they also know how easy it is to move to south America or to other hide aways that lust for their visits. Welcome to a geopolitical shift, the king is dead, long live the king!
September 24, 2008 at 6:58 PM EDT
TORONTO — Merrill Lynch Canada Inc. is challenging the prevailing view that Canada's housing and mortgage markets are more stable than their U.S. counterparts, warning that households in this country are so indebted that it's only a matter of time before we see a major downturn here as well.>>>does this sound true? You bet it does!!!!!
lordmandeep
Banned
if it were true, the Banks in Canada would be going nuts then...
Dichotomy
Banned
Now RBC is being investigated by Washington for any wrongdoings in this latest mortgage scandal. Washington is in a bad mood and they are finally catching on to the fact that a lot of sloppy/fraudulent accounting has been going on. They are looking for someone to hang.
I suspect our banks are more involved than they are letting on. Let's hope things don't get as ugly as south of the border, but as I posted once before, I suspect things in Toronto are nastier than anyone is publicly admitting. I know of a few people who have been laid off from there well paying banking/insurance jobs recently. There is a reason that companies, banks, etc. don't always publicly break down their sales or profit projections by territory. Right now, Alberta and Saskatchewan are skewing the financial picture.
The next 6 months will be very, very interesting............
I suspect our banks are more involved than they are letting on. Let's hope things don't get as ugly as south of the border, but as I posted once before, I suspect things in Toronto are nastier than anyone is publicly admitting. I know of a few people who have been laid off from there well paying banking/insurance jobs recently. There is a reason that companies, banks, etc. don't always publicly break down their sales or profit projections by territory. Right now, Alberta and Saskatchewan are skewing the financial picture.
The next 6 months will be very, very interesting............
afransen
Senior Member
H
Hydrogen
Guest
jade lee, you should at least provide a the source for the portion of the article you posted.
http://www.theglobeandmail.com/servlet/story/LAC.20080920.HOUSES20//TPStory/Front
So Wall Street is down now. It will eventually rebuild.
http://www.theglobeandmail.com/servlet/story/LAC.20080920.HOUSES20//TPStory/Front
So Wall Street is down now. It will eventually rebuild.
jade_lee
Active Member
yeah ok. cheers to the wall street recovery! Sounds like something steve harper would say!
H
Hydrogen
Guest
Maybe you should ask him yourself.
Then again, you appear to be addicted to doom and gloom. You just can't wait for a catastrophe big enough to satisfy your sense of self-righteousness.
Then again, you appear to be addicted to doom and gloom. You just can't wait for a catastrophe big enough to satisfy your sense of self-righteousness.
cuzzin_elias
Banned
...criminals.
Going to hang.
History.
Going to hang.
History.
Roy G Biv
Senior Member
Bill voted down, Dow plummets 778 pts, biggest drop in history.
Yeeee haaaa.
Congress did the right thing for the wrong reasons.
Yeeee haaaa.
Congress did the right thing for the wrong reasons.
MetroMan
Senior Member
Now can we begin writing the history books where W. is declared the Worst President in the History of the USA?
... and silly Americans are still considering voting for the candidate of his party.... *sigh*
... and silly Americans are still considering voting for the candidate of his party.... *sigh*