Banking regulators close IndyMac

Originally posted by Rockpuck
reply to post by mybigunit

 

HEY ...

Don't pick a fight with Light when hes not here..

Let's stick the TOPIC people and lets NOT go down the road of flaming trollish BS ..

Intellectual conversations ONLY. Thanks.

I didnt pick a fight with Light. Swing did and I responded. Light and I argue all the time. No offense. in fact I U2Ued him this thread so he can defend himself. Him and I agree on a bit more than either would link we just have 2 different perspectives of how the world works mine the reality his the utopia

[edit on 11-7-2008 by mybigunit]

That was meant tongue in check. I'm sure light can handle it

www.reuters.com...

After hours.....

UPDATE 1-Lehman shares plunge amid market distress

Fed on Monday?

I wonder if tension will build this weekend and the markets will plunge?
Love to be a fly on the wall now in certain places.

Rockpuck, my friend, excellent analysis as always! This is going to turn out to be the beginning of a very difficult time for the US and global markets. While we were debating whether or not there would be another great depression I am very glad this little tidbit did not surface as it would have been the definitive nail in the coffin.

Scary times indeed...

No, it wouldn't. It would make gas around $4.50-4.60 .... which would NOT shut the US economy down ... it would make it harder for many, but eventually you'll learn to not eat one night a week to afford the gas to get to work


No offense Rockpuk......I ususalluy think you are spot on, but the current gas price is based on ~$100-$110 / barrel..............The current $147 spec price should put gas in the $5-6 Range in several months, best case scenario so $200/bar would be +$6-7 range correct?

Geez, I noticed our local doom and gloom prophets were already chomping at the bit and celebrating. Feeling like they were right, as usual, when they don't recognize whats going on. Don't worry, I'm here to rain on the doom and gloom parade swingarm:

This is great news! There is going to be a huge sale on Monday in the markets. The sheeple are going to run for the exits and, per the usual, lose a lot of their money due to selling low and buying high. Those in the know are going to make a killing off them I wonder if I can open up a margin account in time for Monday...

I love efficient markets. Making up for the irrationality of the housing boom is happening much quicker than I thought. The sad thing is the FDIC really didn't let them collapse. They took over before it got close enough. Most IndyMac employees will remain. I hope Senator Schumer is proud, as he is the one who instilled enough panic to get the ball rolling.

Roll out, doom and gloom prophets! Send the sheeple scattering for the hills! I'm counting on you guys, you can do it! The fear mongering by Monday is going to be high enough to make quite a bit. RUN SHEEP! RUN! THE END IS NIGH!

[edit on 11-7-2008 by ALightinDarkness]

reply to post by mybigunit

Light is the sexiest & most intelligent man on earth and does not deserve to be treated in this fashion swing that is not right at all

I'm sory light i've not seen the light that Mybigunit has. With a name like his I'd watch your back though


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Mod Note: Please Stay on Topic


[edit on 11-7-2008 by DontTreadOnMe]

reply to post by whiteraven


It seems like the Asian markets always fall faster and farther than the US markets. I expect a mini-crash in Asia on Sunday night.

reply to post by Swingarm


Mybigunit doesn't let his views get in the way of facts...


...about my sexiness.

Mybigunit, your bribe for flattering me is on its way, check is in the mail.


Mod Note: Please Stay on Topic


[edit on 11-7-2008 by DontTreadOnMe]

I wonder if there was some type of switch to the amero during this NWO? process, that it could mean greater values for those who keep their money in their bank accounts rather than cash?

I've been procrastinating doing anything with my 401k such as rolling it over into an IRA. I'm currently on disability which supposedly isn't permanent so I can't cash it out without a 20% penalty. I should have done that 6 months ago so I would get what's probably left in it now.

But if I leave it in, I may stand a better chance of recovery. I think my losses have put me back about five years worth of any gains.

What are the current trends compared with the lowest or greatest losses in the last 8 years?

Iran appears to be manipulating the prices with it's bs war stick. Anyone have a Bigger stick to hit them back with?

reply to post by Rockpuck


I put in an order, for .29 or less, it hasn't gone through yet, so I will get 10,000 shares at whatever price it is at monday morning as long as it is less than .29.

Originally posted by aleon1018
What are the current trends compared with the lowest or greatest losses in the last 8 years?

Retirement investments should be for the long term, not the short term. If you look at the overall performance of the market its going to go up over the long term. The last 8 years, as they include both the tech and housing bubble, will give you the worst picture possible. Conversely, if you took 1992 to 2000, you'd get the best picture possible. Neither represent the "normal" trend of the markets.

Overall, this is a blip compared to the 1970s or some of the other economic down turns.

Of course as always, as anyone gets close to retirement they should get out of stocks and into more safe investments...however...unless someone is 10 years or less away from retirement, current events will have little meaning on investments over the long term. This of course assumes you have a diversified portfolio...if you do not...now when everything is on sale is a good time to get one.

[edit on 11-7-2008 by ALightinDarkness]

reply to post by pityocamptes


When the feds take control, it means that the stock isn't going to 0. If you bought common stock say last year when it was over 34$, you have been shafted if you still own it now. That is like a 99% loss. But you can still buy it dirt cheap. And some big boy is going to come along and buy it, for a negotiated price (JP Morgan, or someone similar) they will agree on a price, and it will probably be between 5-20$ a share, hopefully for me 20$.

Hopefully it isn't an after hours type of thing, where on monday morning it has been already propped up, before I had a chance to buy it cheap.

I saw the IndyMac story at 4:30 (PST) this evening when an email came into my account at work with the "breaking news flash." I had been waiting for "something big" to happen over the past few days, and I suddenly felt like this might have been it. The first thing I did when I got home an hour and a half later was look this up ATS, where I knew I would find a wide variety of viewpoints discussing the implications. And yet I find only three pages!

I don't know enough about economics to add anything here, but I really don't understand why this isn't one of the hottest topics on the site right now. If nothing else, this definitely should be on the front page! I'm all into aliens and ascension and planet x and other speculative topics as much as anyone, but this is something tangible, timely, and very significant. Are we are all so distracted that we're not paying attention to our new Black Friday? I guess I'll do my duty with the S&F, but honestly I find myself disappointed by the lack of interest here.

Sure, its not a "terer" attack or a mass UFO landing, but c'mon...this is BIG! Or am I blowing this out of proportion?

reply to post by TruthWithin

This is going to turn out to be the beginning of a very difficult time for the US and global markets.

While the US has only suffered one major Depression and perhaps one other minor depression (pending economic views on "what is a depression") .. I believe the makings of a "Depression" .. Is pretty straight forward .. that in order to have a healthy economy, it must suffer minor set backs (recessions) and sometimes it will need a major set back to correct wrong doings in the markets (depression) and sometimes it needs a reboot .. a complete overhaul .. (Major Depression) ..

In order to reach the point where the economy is a sick and riddled old hag that needs to be put down, there needs to be corruption, failures of principle underlying economic policies and a perfect storm of political situations ..

Essentially, in order to keep the Country strong, we must destroy the economy every so often to create a new one .. The very way we live is at stake.. I don't see our future going any further if we rely on 1:100 debt ratios per house hold .. We need a currency overhaul, we need an overhaul on how banking is preformed.. we need to destroy the economy and re-boot one to fit the needs and demands of this coming century..

Pinktip:

Mmm.. not really.. I think $4 a gallon is right in line with the price of oil .. the oil is being sold in ever increasing amounts and the companies continue to break profit records..

There is not a single indication that says the price of gas is undervalued..

Another $50 increase will be maybe a dollar increased at the pump.. depending on your region and your local taxes.

ALightinDarkness

This is great news! There is going to be a huge sale on Monday in the markets. The sheeple are going to run for the exits and, per the usual, lose a lot of their money due to selling low and buying high.

Individual stock traders .. don't really effect the markets that much. Fund managers do. "Sheeple" have nothing to do with it --- what ever the hell a sheeple is.

I have a very select few stocks I trade in, and they all come from mutual agreement in personal "think tank" type investor circles I am in.. mostly small companies making big profits at a discount price.. but as for buying into the big fortune 500 companies .. volatility keeps me away .. regardless .. I don't like to spend my days when I could be in the pool drinking a guinness watching stock charts because the market can be +100 one minute down 300 the next.

I have been doing good in the Forex markets lately I have gotten more active because of the increased volatility .. might as well profit on the falling dollar.

People making short term profits on the stock market however.......

Means nothing to the economy.. because of the way the markets are traded anymore, the market does not reflect the economy..

The sad thing is the FDIC really didn't let them collapse.

Are you aware of the implications of that actually happening are? ... Not being a "doom and gloomer" and all.......

aleon1018

NWO .. What's this.. and what's it got to do with the article? You can't just come in and say "Ohhhh ya .. that .. nwo there... bloody buggers.. "

reply to post by Rockpuck


Yes, I'm very well aware of the impact of letting IndyMac collapse. The hysteria and fear mongering would make market prices like a sale on Christmas decorations on December 26. I like sales.

The research shows that a majority of small time 401k and retirement investors react quickly to fear mongering by selling, which is why they always sell low and buy high. A few sheep running towards the exists isn't enough to make sale prices better, but if we can get most of the herd stampeding towards the exists we can get a really good sale on the stocks they dump. By the way, the sheep I am referring to are the non-diversified portfolio ones who run around in hysteria or euphoria, depending on how the media spins the market day to day. They can be relied upon like clockwork to lose money from selling, as they do during every recession at the low points.

I can only hope. Which is why I am encouraging the doom and gloom prophets to roll out and start the fear mongering. Of course on ATS they do this 24/7 regardless of economic conditions, but hey, I'm here to encourage.

[edit on 11-7-2008 by ALightinDarkness]

reply to post by ALightinDarkness


Agree 80%, it MIGHT be time to start nibling on things if we get a good flush next week. The value investror's time is coming. If Ithought IMB was the largest or the last institution to get FDIC treatment I might even be a buyer myeslf, but unfortunately I think the seizures are just getting started. If I did buy I'd be prapared for some serious downside risk and hedge accordingly. Bulls and bears can both make money even in a bear market which is kind to niether.

Which brings me to the third animal. Bulls make money, bears make monet, pigs get slaughtered.

Reply to downtown436
I realy don't know what to say about that. I think your target of $5-$20 is insane. If it's bought I think a $0.05-$0.50 PPS is 1000xs more likely than anything near $5. Bear sterns went to $2 an eventually sold at $10. You could make money, but most likely you are gonna piss away almost 3 grand.

This is the second largest bank failure $ wise in history of FDIC. Only one larger was in early '80s in IL. How things play out here will give us an idea as to how things procede with future siezures.

(Please evcuse any typos or excessive use of acronyms and numbers broke arm today).

reply to post by ALightinDarkness


"Sale" .....

I honestly don't know where you picked up your economics.

You said the same thing after every sell off "oo a sale" ... How big did you make out after those "sales"? .. It doesn't make sense to buy a stock and then try and sell it within 1-2 days. I know people that do it, they make money, but thats not how the market was intended.

And it doesn't help the economy.

reply to post by jefwane


I have to agree on the stock bit..

This was not a forced merger by the Fed.. this was an actual "closing" .. but who knows..

The only reason BOA offered $10 a share was because of a very disgruntled billionaire...