ZachEY Posted March 5, 2009 Share Posted March 5, 2009 little snot nose kid, LOL. I quit back in '02 or so. ah, right when the tech bubble burst. Link to comment Share on other sites More sharing options...
Bugg Posted March 5, 2009 Author Share Posted March 5, 2009 Put a cork in your piehole, Timmy Boy- Link to comment Share on other sites More sharing options...
DHJF Posted March 5, 2009 Share Posted March 5, 2009 "Stocks slid on Thursday with the Dow and S&P falling to 12-year lows as General Motors' warning of possible bankruptcy and concerns about the banking system's fate reinforced investors' reluctance to take on risk." - Reuters Citigroup Breaks $1 GM auditors raise the specter of Chapter 11; shares slide below $2 U.S. officials admit huge regulatory gaps on AIG 12 pct. are behind on mortgage or in foreclosure Retailers report sales declines in February Link to comment Share on other sites More sharing options...
joebabyny Posted March 5, 2009 Share Posted March 5, 2009 ah, right when the tech bubble burst. Nah, that really happened around 2 years before. I was supposed to be doing the trading for an internet index fund we were going to manage. Just as they were completing that deal the whole internet/tech bubble just popped. We said screw it and I went back to the regular desk trading small cap value for the institutional money we managed. At the time I was pissed because I was like 22-23 and really into the dotcom stuff and looking forward to trading that stuff instead of crap small cap value stocks that were just about the hardest thing to trade there is, but looking back it would have really sucked to get in there at the top and just take the long ride down to the bottom. Link to comment Share on other sites More sharing options...
joebabyny Posted March 5, 2009 Share Posted March 5, 2009 look, i know the policy on politics here, but I just gotta say it. At SOME point, you got to realize that getting up in front of the world and using scare tactics and saying we may never recover as a means to an end of getting your policies passed is going to do more harm than good. The market is all about perception. At the end of the day, if people believe and want the market to do well, it will do well, if you want to get up there and make everyone think the world is coming to an end, then you create panic and charts that look like the one i quoted. At this point, I just don't want to hear the blame that this was inherited. Jim Cramer is right, this past 2 months has been the largest destruction of wealthy in our history. Every time a bill is passed or one of the talking heads in the administration gets in front of the mic you see another avalanche in the market. At this point it is fear tactics used to push agendas and not the best interest of this country. Instead of spending all this stimulus money, why not just go and refinance everyone in the country at 4% and end this housing mess? Link to comment Share on other sites More sharing options...
Thai Jet Posted March 5, 2009 Share Posted March 5, 2009 You know it's really bad when stable, All American enterprises like JN are hurting. Link to comment Share on other sites More sharing options...
Bugeater Posted March 5, 2009 Share Posted March 5, 2009 You know it's really bad when stable, All American enterprises like JN are hurting. Yep. Link to comment Share on other sites More sharing options...
Bugg Posted March 6, 2009 Author Share Posted March 6, 2009 Is anyone else tired of the poor, silly stupid people who were supposedly pressured or threatened or some other such nonsense into buying house they couldn't afford or signing off on mortgage without knowing adjustable meant it could go up?What utter drivel. Anyone ever been at a closing where a gun was put to the buyer's head? More often it was a case of a moron buying more house than he could ever really afford. This is getting beyond tiresome. Every story on tv and newspapers and radio proves that most of these "victims" are dolts. They were victims only in the sense that government backed programs under both parties like Freddie and Fannie encouraged their idiocy.Crazy idea-ask a question or 2 before you sign a mortgage. To some that was too much, and the house was so nice. When they went to closing, did they think it was a pageant rather than a serious adult decision?Next time I should get the biggest house on the market, way beyond my means.To heck with the common sense,asking questions and any common sense rules. After all, Daddy Government will bail me out. Link to comment Share on other sites More sharing options...
Bugg Posted March 7, 2009 Author Share Posted March 7, 2009 Behold the future- Link to comment Share on other sites More sharing options...
JonEJet Posted March 7, 2009 Share Posted March 7, 2009 They weren't bitching and moaning collecting that $75000 check after the rifi People in general overspend If you refi'd and snorted 75k up your nose, then f-off Link to comment Share on other sites More sharing options...
JonEJet Posted March 7, 2009 Share Posted March 7, 2009 Behold the future- Link to comment Share on other sites More sharing options...
Maxman Posted March 7, 2009 Share Posted March 7, 2009 I don't want to brag. But when things were good I was truly a man of vision. I put my entire life savings into Jetnation. Why? Because it is the ultimate growth industry that will never see an end. The Jets, WILL ALWAYS, give us something to bitch about. Link to comment Share on other sites More sharing options...
Jet Moses Posted March 7, 2009 Share Posted March 7, 2009 Is anyone else tired of the poor, silly stupid people who were supposedly pressured or threatened or some other such nonsense into buying house they couldn't afford or signing off on mortgage without knowing adjustable meant it could go up?What utter drivel. Anyone ever been at a closing where a gun was put to the buyer's head? More often it was a case of a moron buying more house than he could ever really afford. This is getting beyond tiresome. Every story on tv and newspapers and radio proves that most of these "victims" are dolts. They were victims only in the sense that government backed programs under both parties like Freddie and Fannie encouraged their idiocy.Crazy idea-ask a question or 2 before you sign a mortgage. To some that was too much, and the house was so nice. When they went to closing, did they think it was a pageant rather than a serious adult decision?Next time I should get the biggest house on the market, way beyond my means.To heck with the common sense,asking questions and any common sense rules. After all, Daddy Government will bail me out. The worst part is, something like 90% of this mortgage forclosures are isolated to four states: California, Florida, and I think the other two are Nevada and Arizona. Why should the rest of the country have to suffer for these states irresponsibility? Link to comment Share on other sites More sharing options...
Jet Moses Posted March 7, 2009 Share Posted March 7, 2009 I don't want to brag. But when things were good I was truly a man of vision. I put my entire life savings into Jetnation. Why? Because it is the ultimate growth industry that will never see an end. The Jets, WILL ALWAYS, give us something to bitch about. Three things you can always count on: taxes, death, and Jets fan misery. Link to comment Share on other sites More sharing options...
Thai Jet Posted March 7, 2009 Share Posted March 7, 2009 I am Icelandic....my mom is born ther, both sisters born there It is no joke what is happening over there.....they have all these internet banks promising crazy CD rates. Municipalities are investing in icelandic banks.....they call for their cash, and the cash is gone Seems to be they hedged alot of thier $$$$$$ on mortgages Oops Mu uncle was here when the sh1t hit the fan.....he couldn't use his credit cards, his cash was no good Had to borrow money from family just to get home:eek: I had no idea it was this bad over there Jon. I hope everything starts improving and things get back to normal. Link to comment Share on other sites More sharing options...
Thai Jet Posted March 7, 2009 Share Posted March 7, 2009 Three things you can always count on: taxes, death, and Jets fan misery. That last one's everlasting. Link to comment Share on other sites More sharing options...
faba Posted March 7, 2009 Share Posted March 7, 2009 Three things you can always count on: taxes, death, and Jets fan misery.[/quote Jets fans can commiserate together here at jetnation at least Jet Mo. Link to comment Share on other sites More sharing options...
faba Posted March 7, 2009 Share Posted March 7, 2009 Who would have ever thought Citgroup stock would be less than $1-a penny stock! Link to comment Share on other sites More sharing options...
Jetscode1 Posted March 8, 2009 Share Posted March 8, 2009 Saw this on another messgae board and thought it might apply to this topic...enjoy. The Financial Crisis Explained With a Simple Parable Heidi is the proprietor of a bar. In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around and as a result increasing numbers of customers flood into Heidi's bar. Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Since nobody is paying now, her sales volume increases massively. With no money coming in, Heidi get more and more beverages on credit from her distributors, but still has to borrow from the bank to pay some distributors. A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral. At the bank's corporate headquarters, expert bankers transform these customer assets into DRNKBONDS, ALKBONDS and BARBONDS. These securities are then traded on markets worldwide. No one really understands what these names mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items. One day, although the prices are still climbing, a risk manager (subsequently of course fired due to his negativity) of the bank decides that the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar. They cannot pay their debts. Heidi cannot fulfill her loan obligations and claims bankruptcy. DRNKBOND and ALKBOND drop in price by 95%. BARBOND performs better, stabilizing in price after dropping by 80%. The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the BARBOND securities are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over - for a pittance - by a competitor. The bank is saved (bailed out) by the Government following dramatic round-the-clock consultations by leaders from both political parties and the non-functioning regulatory agencies. The funds required for this purpose are obtained by a tax levied on the non-drinkers. Link to comment Share on other sites More sharing options...
DHJF Posted March 8, 2009 Share Posted March 8, 2009 Saw this on another messgae board and thought it might apply to this topic...enjoy. The Financial Crisis Explained With a Simple Parable Heidi is the proprietor of a bar. In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around and as a result increasing numbers of customers flood into Heidi's bar. Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Since nobody is paying now, her sales volume increases massively. With no money coming in, Heidi get more and more beverages on credit from her distributors, but still has to borrow from the bank to pay some distributors. A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral. At the bank's corporate headquarters, expert bankers transform these customer assets into DRNKBONDS, ALKBONDS and BARBONDS. These securities are then traded on markets worldwide. No one really understands what these names mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items. One day, although the prices are still climbing, a risk manager (subsequently of course fired due to his negativity) of the bank decides that the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar. They cannot pay their debts. Heidi cannot fulfill her loan obligations and claims bankruptcy. DRNKBOND and ALKBOND drop in price by 95%. BARBOND performs better, stabilizing in price after dropping by 80%. The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the BARBOND securities are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over - for a pittance - by a competitor. The bank is saved (bailed out) by the Government following dramatic round-the-clock consultations by leaders from both political parties and the non-functioning regulatory agencies. The funds required for this purpose are obtained by a tax levied on the non-drinkers. Outstanding explanation for the layman. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted March 8, 2009 Share Posted March 8, 2009 Three things you can always count on: taxes, death, and Jets fan misery. Jets fans can commiserate together here at jetnation at least Jet Mo. Rest assure that NE fans will always be there for you. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted March 8, 2009 Share Posted March 8, 2009 The worst part is, something like 90% of this mortgage forclosures are isolated to four states: California, Florida, and I think the other two are Nevada and Arizona. Why should the rest of the country have to suffer for these states irresponsibility? Yep, Nevada is one of those states. USA Today ran this story friday. Las Vegas was hit hard. Go figure on that one, huh? In the not too distant past, Vegas had the most ongoing commercial construction projects in the world. Tower cranes in every direction along the strip. And, they couldnt build residential fast enough. Californians moving there in droves to escape the exhorbinant home prices on the West coast. I dont believe Ohio was # 4, but they were hit hard there as well. Link to comment Share on other sites More sharing options...
Jet Moses Posted March 8, 2009 Share Posted March 8, 2009 Yep, Nevada is one of those states. USA Today ran this story friday. Las Vegas was hit hard. Go figure on that one, huh? In the not too distant past, Vegas had the most ongoing commercial construction projects in the world. Tower cranes in every direction along the strip. And, they couldnt build residential fast enough. Californians moving there in droves to escape the exhorbinant home prices on the West coast. I dont believe Ohio was # 4, but they were hit hard there as well. I think Ohio and Michigan were unique in the sense that the homes were sold so cheap because they were in already economically depressed areas (even before the recession). I don't know how the people who bought those homes even qualified for the loans in the first place. There are lots of nice houses in Dayton and Cincinatti at firesale prices, but try and find a decent job there. There are no jobs. Driving through the rust belt of Indiana, Illinois, Michigan and Ohio is very depressing. Link to comment Share on other sites More sharing options...
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