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Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails |
Anonymous Coward User ID: 512696 United States 09/28/2008 05:11 PM Report Abusive Post Report Copyright Violation | Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails [ link to www.telegraph.co.uk] The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulson’s financial bailout plan fails, US Treasury officials have warned. The financial system could face a meltdown of 1929 proportions unless US politicians succeed in their efforts for a $700bn rescue scheme, experts added. The warning came as Republicans and Democrats met in Washington for a rare weekend debating session to attempt to seal agreement on the contentious plan, aimed at preventing a long-lasting recession in the US. Officials close to Paulson are privately painting a far bleaker portrait of the fragility of the global economy than that advanced by President George W Bush in his televised address last week. One Republican said that the message from government officials is that “the economy is dropping into the john.” He added: “We could see falls of 3,000 or 4,000 points on the Dow [the New York market that currently trades at around 11,000]. That could happen in just a couple of days. “What’s being put around behind the scenes is that we’re looking at 1930s stuff. We’re looking at catastrophe, huge, amazing catastrophe. Everybody is extraordinarily scared. It’s going to be really, really nasty.” Investors fretted about contagion into Europe, where Fortis, which was part of the consortium that bought ABN Amro last year, fired its chief executive after liquidity concerns pushed shares down more than 20pc to a 14-year low. Holland’s ING and BNP Paribas are looking at buying the bank this weekend. London investors have warned that the FTSE could suffer falls of as much as 1,000 points - a fifth of its value, if the deal falls through. Peter Spencer, economic adviser to the Ernst & Young Item Club, said: “ This is the time you have to bail people out and ask questions later. It is very difficult to see how the US banking system would survive without that.This has the potential to make 1929 look like a walk in the park.” Senator Harry Reid of Nevada, the majority leader, said: “We hope sometime [Sunday] evening we can announce some kind of agreement in principle. We may not have another day.” Rebel Republicans - who see Paulson’s proposals as socialism by the back door - were warned they will be responsible for causing an “amazing catastrophe” if they continue to oppose the plans, which would see taxpayers buy up the bad debts of failing banks. Instead they want an insurance scheme for banks, which would spread the cost to private enterprise. |
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Anonymous Coward (OP) User ID: 512696 United States 09/28/2008 05:12 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails FEAR AND PANIC!!! 1929 crash proportions!!! |
Poe
(OP)
User ID: 512696 United States 09/28/2008 05:14 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails FEAR AND PANIC!!!
Quoting: markusmaximusSeems our government has found their niche. “Whatever women must do they must do twice as well as men to be thought half as good. Luckily, this is not difficult.” ~ Charlotte Whitton |
Anonymous Coward User ID: 499261 United States 09/28/2008 05:14 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails Nice AV markus. With the way things are going, self-immolation may be the next fad... |
Anonymous Coward (OP) User ID: 512696 United States 09/28/2008 05:14 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails :dollarcras: |
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Anonymous Coward (OP) User ID: 512696 United States 09/28/2008 05:15 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails Senator Harry Reid of Nevada, the majority leader, said: “We hope sometime [Sunday] evening we can announce some kind of agreement in principle. We may not have another day.”
Quoting: markusmaximusPanic much??? Sheesh. |
Anonymous Coward (OP) User ID: 512696 United States 09/28/2008 05:21 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails “What’s being put around behind the scenes is that we’re looking at 1930s stuff. We’re looking at catastrophe, huge, amazing catastrophe. Everybody is extraordinarily scared. It’s going to be really, really nasty.”
Quoting: markusmaximusGood LORD. |
Anonymous Coward (OP) User ID: 512696 United States 09/28/2008 05:26 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails FEAR AND PANIC!!!
Seems our government has found their niche.
Quoting: PoeI haven't witnessed this kind of blatant fear hype in a while... |
outcast
User ID: 507870 United States 09/28/2008 05:28 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails seems like a desperate appeal to greed, give us the $ or you are fxcked. |
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outcast
User ID: 507870 United States 09/28/2008 05:30 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails Nice AV markus. With the way things are going, self-immolation may be the next fad...
Quoting: Anonymous Coward 499261i burn daily. next freakin mornin there i am again fresh as a daisy. no rest for the wretched. |
fred704 User ID: 512765 United States 09/28/2008 06:32 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails Time for the Feds to learn to fear God. Let the market crash. Faith in GOD only will restore prosperity. |
Anonymous Coward User ID: 512751 United States 09/28/2008 06:41 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails In the words of Dave Grohl
It’s times like these you learn to live again It’s times like these you give and give again It’s times like these you learn to love again It’s times like these time and time again
In my words
It's times like these it's good to be drunk off your ass and don't give a shit. |
Elias
User ID: 454918 United States 09/28/2008 06:42 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails :dollarcras:
Quoting: markusmaximusCrash-n-Burn! Roger That. “The world doesn't make sense until you force it to.” - Frank Miller
"Don't buy into a superficial reality. It has an expiration date." — Truth Devour (Wantin) |
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Lemoning
User ID: 512648 United Kingdom 09/28/2008 06:43 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails Well it's fairly obvious now that they will get an agreement, so they can claim to have saved wall street once again. There is no chance in hell of this failing right now. Next week, next month, maybe, but right now, no chance at all. |
Anonymous Coward User ID: 412856 United States 09/28/2008 06:43 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails More false flag operations, only this time they show there faces. |
Anonymous Coward User ID: 512814 United States 09/28/2008 07:49 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails so they can claim to have saved wall street once again.
Quoting: LemoningAhhh....Election years...you've GOT to love 'em. |
Anonymous Coward User ID: 148742 United States 09/29/2008 08:50 AM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails |
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Anonymous Coward User ID: 335284 United States 09/29/2008 08:53 AM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails I'm glad I picked up the latest Star Wars game for my PS3 before it was too late.... whew. |
Anonymous Coward User ID: 499494 Germany 09/29/2008 08:58 AM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails MORE FEAR AND MORE FEAR!
FFS, STFU, I'm so fed up of all the lies. Bring that bullshit system down now, I don't give a fuck!!! |
Anonymous Coward User ID: 513150 Canada 09/29/2008 09:03 AM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails seems like a desperate appeal to greed, give us the $ or you are fxcked.
Quoting: outcastPretty much. EXTORTION - The use, or the express or implicit threat of the use, of violence or other criminal means to cause harm to person, reputation, or property as a means to obtain property from someone else with his consent. USC 18 |
Anonymous Coward User ID: 148742 United States 09/29/2008 03:17 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails Well, NOW we get to see if this was nothing more than a bunch of FEAR AND PANIC tactics... |
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Anonymous Coward User ID: 513312 France 09/29/2008 03:43 PM Report Abusive Post Report Copyright Violation | Re: Treasury Officials: THIS WEEK, the US stock market could suffer a devastating crash with shares losing a third of their value if BAILOUT fails It has failed ....
It has ! |
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