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US banking crisis
Topic Started: Sep 15 2008, 10:19 AM (1,409 Views)
myphotoshop
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i had been following news of the growing crisis, i think the world is indeed heading for very rough times.

guys... remember cash is king ! be wise. ;) he who has ears, let him hear.

Edited by myphotoshop, Sep 15 2008, 10:20 AM.
"PHOTOSHOP" helping the ugly since 1988
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myphotoshop
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last heard was Lehman Brothers... (no one is buying to save them)

now AIG ! our dear name printed on those Man U shirts !

AIG May Seek Help From Federal Reserve, WSJ Says (Update1)
2008-09-15 01:37:08.240 GMT


(Adds impact of possible ratings cut in the fourth
paragraph.)

By Hugh Son
Sept. 14 (Bloomberg) -- American International Group Inc.,
the insurer seeking to stave off credit downgrades, may seek help
from the Federal Reserve, the Wall Street Journal said.
The insurer has turned down a private-equity investment
because it would have meant turning over control of the company,
the Journal said on its Web site, citing unnamed people familiar
with the situation.
Chief Executive Officer Robert Willumstad, 63, is under
pressure to raise capital after three quarterly losses totaling
$18.5 billion and a 79 percent stock slide this year. Investors
are concerned the New York-based insurer can't raise enough cash
to cushion against future writedowns from credit-default swaps,
which are contracts AIG sold to protect fixed-income investors.
A ratings cut may have ``a material adverse effect on AIG's
liquidity'' and trigger more than $13 billion in collateral calls
from debt investors who bought the swaps, the insurer said in an
Aug. 6 filing. AIG has already posted $16.5 billion in collateral
through July 31. A downgrade could also set off early termination
of swaps that may cause $4.6 billion in payments, AIG said.
AIG spokesman Nicholas Ashooh didn't immediately return a
phone call seeking comment.

--Editor: Dan Kraut, Rob Urban
Edited by myphotoshop, Sep 15 2008, 10:23 AM.
"PHOTOSHOP" helping the ugly since 1988
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tankm
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economist said long ago the us market should have crashed, but it didn't. there is still alot of money flowing into the us to keep sustaining it at it's current state. this been going on for almost 1 year if i'm not wrong.

wonder when the major correction will come ? some say soon, but no one know for sure. the us gov and lots of other major gov are doing all they can to prevent it from happening.
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myphotoshop
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tankm
Sep 15 2008, 12:52 PM
economist said long ago the us market should have crashed, but it didn't. there is still alot of money flowing into the us to keep sustaining it at it's current state. this been going on for almost 1 year if i'm not wrong.

wonder when the major correction will come ? some say soon, but no one know for sure. the us gov and lots of other major gov are doing all they can to prevent it from happening.
when the banks are in trouble, everyone is in trouble.

"PHOTOSHOP" helping the ugly since 1988
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myphotoshop
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i wonder who is next. ML sold to BOA, Fannie got bailed out last week.. but seems like more is coming.

Lehman Brothers to file for bankruptcy

http://www.channelnewsasia.com/stories/afp_world_business/view/375986/1/.html
Edited by myphotoshop, Sep 15 2008, 03:02 PM.
"PHOTOSHOP" helping the ugly since 1988
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Trigger Happy
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rough and uncertain times indeed. the worst bit is this is not confined to the banking/ financial industry. the fallout will have much far-reaching impact across economies and countries. the biggest and most immediate impact will be a recession caused by knee-jerk reactions and ppl start spending less. not that i advocate that but this is a time to start cutting back a little, save it for a rainy day. you'll never know... :sweat:
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Many are culled, few are chosen
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myphotoshop
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Trigger Happy
Sep 15 2008, 03:39 PM
rough and uncertain times indeed. the worst bit is this is not confined to the banking/ financial industry. the fallout will have much far-reaching impact across economies and countries. the biggest and most immediate impact will be a recession caused by knee-jerk reactions and ppl start spending less. not that i advocate that but this is a time to start cutting back a little, save it for a rainy day. you'll never know... :sweat:
Trigger Happy, what can be shaken will be shaken, just sooner or later

They love to borrow and borrow, print and print like no tomm.. now time for a reality check
"PHOTOSHOP" helping the ugly since 1988
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Trigger Happy
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if its myanmar yes i agree. there they simply print more currency when it runs out. totally out of control.
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myphotoshop
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Trigger Happy
Sep 15 2008, 03:53 PM
if its myanmar yes i agree. there they simply print more currency when it runs out. totally out of control.


ya lah.. anyway.. it is bear season for the next 7 years based on Joseph cycle.
Edited by myphotoshop, Sep 15 2008, 03:56 PM.
"PHOTOSHOP" helping the ugly since 1988
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Ming
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90609866
:sweat:

More Newer Cars ...
More Newer Condos ...
More Newer Computers ...
More Newwer Clubs ...
More Newer Cameras ...

So many many New things coming up ... What is the effect of the Crisis ?
Ask ... Absorb ... Equip ... Execute
N E X with M I N G HERE ! A P - Ming HERE ! Macro-Ming HERE ! Pano-Ming HERE ! Food ! Food ! Foods ! HERE
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