More economic woes, the Great Depression safe guards are failing!

Mothernature · 03-05-2009, 03:37:05 PM

The FDIC (Glass Steagall act) is in danger of failing.

kval07 · 03-05-2009, 04:01:57 PM

Oh man, what a mess that would be! Imagine the panic that speculation must be creating...

kas · 03-05-2009, 04:26:31 PM

If Frank Capra was to make It's Wonderful Life today, Potter would have cleaned up from a bank bail out and now want more, George Bailey would have been writing subprime loans and laid off, Mary Hatch would have gotten fertility treatments and expecting multi-births and the devil would have tax trouble and blown his chance for a government post.

kas · 03-06-2009, 04:37:56 PM

Great news, today the NYSE only dropped 1/3 as much as it did on Thursday, although it usually it rallies on Friday. Now if there was still a breaker that kicked in when the exchange drop so much, there would be days where traders would be twiddling their thumbs. Those running that dog and pony show now are too embarass to halt floor trading on blue chips dogs, I meant stocks, that now sell under a buck. GE closing at $6.66 did raise some eyebrows and it wasn't that the stockholders were losing money hand over fist.