THE CREDIT CARD CRUNCH

[Numero001]

Like I said they are foot soldiers to me

[JGGB]

Let's beat the credit crunch by printing some more fake Krispy Kreme vouchers please

[Maxxx]

sh*tthe company i work forthere part owned with another, (we both use the same unit).i think we own 60% and they have 40%..neways the big company that part own us and other small firm inside the unit, owe us some money.. i heard its something like 300k if not more.. and the small firm owe us aswellbut becuase the big company owns the unit we rent, they have jus been paying our wages and free rent etc..............shut down soon come?

[Rippy]

Smh @ someone asking me only today what the credit crunch is...

[Guest Flava Dave]

sh*tthe company i work forthere part owned with another, (we both use the same unit).i think we own 60% and they have 40%..neways the big company that part own us and other small firm inside the unit, owe us some money.. i heard its something like 300k if not more.. and the small firm owe us aswellbut becuase the big company owns the unit we rent, they have jus been paying our wages and free rent etc..............shut down soon come?

id start sutin on the sideline

[Maxxx]

lol got some dude at work like datwatches bare concpiracy things but bait ones like dianna and that, gets bare happy if u say u seen it lol

[Seymour Cake]

the new llyods tsb and halifax merge makes them the monopoly in the banking markets'f*cked

[carpedeum]

come on, the average guy hardly deserves to lose their job because some of their employers acted unscroupulously (<-----not sure if that's a word) probably didn't even know it was happening.

there are only few avg guys though, mostly everyone makes use of the credit card economy-foolishly. didnt someone here say a few days ago that he wanted to take out a loan, so he could go on holiday ? thats all part of the stupidity that happens, same way it happens when a bank loans a person who cant really afford their mortgage. that guy who took out the loan is also to blame, same way as the bank who gave it to him.im sure some of the lehman brothers employees had taken out loans and huge mortgages, and the banks gave it to them. so its cycle of stupidity that was always bound to over heat. personal loan debts in the UK is MORE than that of the US, and more than all of west Europe combined over.... $2Trillion and this figure doesnt include mortgages JUST personal loans and credit cards. if 65m people are borrowing more than 300m people, then most 'avg guys' are not really that avg cos they too participated in the credit madness. .if the bubble really bursts, the UK would be the worst hit country when loyds rushes in to save halifax, its bcos of that, but time will tell how long financial institutions/govt can keep patching the wound.

[Goddaz]

Carp, speaking of 'patching the wound' this morning ALL the major central banks (England, America, Europe etc) have injected billions into the money markets in a coordinated effort to improve the global problems.

[Thun]

New world orderRobert Peston 18 Sep 08, 08:11 AM The new rule for any bank or financial institution in the world is don't be too dependent on any one source of funding - because in the stormy conditions on world markets, that funding can disappear, sending said bank crashing on to the rocks.That's the main reason why HBOS last night agreed to be taken over by Lloyds TSB for £12bn.The buffeting its shares were receiving on the London stock market week after week, the perception that it was too dependent on a British housing market heading for serious difficulties, was gradually undermining the confidence of the big institutions that provide around 44% of its funding.There were signs of lenders to HBOS and depositors taking their cash back and putting it elsewhere.If that had continued, well the consequences would have been unthinkable.So the main benefit of its merger with Lloyds TSB is that the enlarged group will benefit from more diverse sources of finance - which should mean, to put it in crude terms, that the beefed-up Lloyds TSB will be less at risk of a run than either HBOS or Lloyds on their own.It was exactly the same logic which drove Merrill Lynch, the big investment bank, into the arms of Bank of America at the weekend - because all the big investment banks, like Merrill, feel dangerously dependent on retaining the confidence of the big money managers and institutions that fund them.And it's why Morgan Stanley - Merrill's great rival - is also looking for a partner or owner with more stable sources of funding (it's talking to America's Wachovia and others).Even Goldman Sachs, the pre-eminent investment bank - in its recent heyday, one of the most powerful institutions in the western world - cannot be confident it can thrive and survive as an independent.Also the recent behaviour of the US and UK governments has sent out a worrying message to the investment banks and their backers.The authorities on both sides of the Atlantic have demonstrated that they'll do all they can to protect and preserve institutions that directly touch the lives of millions of people, retail banks such as Northern Rock and HBOS, mortgage funders such as Fannie Mae and Freddie Mac, or even an AIG, which has a huge retail presence.But the US Treasury refused to prop up Lehman, which was allowed to collapse - and the salient fact about this investment bank is that it was not in retail banking.The credit crunch is creating a new world order in banking and finance.It's striking terror into the hearts of hedge funds, who can see their backers head for the hills at the mere sniff of an investment boo-boo by hedge-fund managers.Conservative institutions, and those with simpler business models and a history of careful management of their funding sources, are the new superpowers.It's a world in which Bank of America, JP Morgan, HSBC, Santander and even Lloyds TSB have the whip hand.It's a world in which the Chinese state, if it co-ordinated the investments of its cash-rich institutions, could end up owning more-or-less the entire financial system of the US and the UK.And it's a world in which even Morgan and Goldman may well have to surrender their proud independence.http://www.bbc.co.uk/blogs/thereporters/ro...orld_order.html

Move along, there is no such thing as the New World OrderIts a conspiracy theory

[Thun]

What I cant understand is that out of these big companies know one has got into trouble for losing all this money.Some of them actually walked away with millions even after the company has gone bust.

[Captain Planet]

What I cant understand is that out of these big companies know one has got into trouble for losing all this money.Some of them actually walked away with millions even after the company has gone bust.

As my economics teacher explained it...Banks lend 10x as much as they own.Banks were lending bonds in the forms of loans secured against homes.Now if people cannot pay back they may lose their house so the bank can re-acquire the money by selling it.When the house market crashed the houses did not meet the value of the loans.Banks were also offering loans to people who could not actually pay them back, mainly in the U.S.So along with the house market crash banks were left in debt.Banks also borrow from each other, but now due to banks going bust they don't want to in case of the bank they are lending to goes bust and they risk getting the repayments.That's why the gov't keeps pumping money into the markets.

[Flojo]

BBC a relaible source now?

[Captain Planet]

BBC a relaible source now?

No, they know nothing of economics.

[Thun]

BBC a relaible source now?

Who stated that everything is unreliable?

[VENOM]

What I cant understand is that out of these big companies know one has got into trouble for losing all this money.Some of them actually walked away with millions even after the company has gone bust.

the papers i am readin say that investigations have started so maybe if you removed your fat head from your f*ck*ng arse you will see that when something happens investigations take place before anyone 'gets into trouble'.

[Flojo]

BBC a relaible source now?

Who stated that everything is unreliable?

You have repeatedly questioned the integrity and reliability of the BBC as a news source and scoffed at people who used it but because in this case it supports your argument it seems you feel its reliable.Thats how it looks anyway.

[Thun]

What I cant understand is that out of these big companies know one has got into trouble for losing all this money.Some of them actually walked away with millions even after the company has gone bust.

the papers i am readin say that investigations have started so maybe if you removed your fat head from your f*ck*ng arse you will see that when something happens investigations take place before anyone 'gets into trouble'.

Its not a criminal investigation you faggott.None of these bankers will get into trouble. Even a dumb prick like you can come to that conclusion.

[Thun]

BBC a relaible source now?

Who stated that everything is unreliable?

You have repeatedly questioned the integrity and reliability of the BBC as a news source and scoffed at people who used it but because in this case it supports your argument it seems you feel its reliable.Thats how it looks anyway.

I aint questioned the intergrity of every news piece from the BBC.You seem consfused.Not everything on the BBC news website is unreliable but most is to spew there propergandaUse your common sense.

[Flojo]

BBC a relaible source now?

Who stated that everything is unreliable?

You have repeatedly questioned the integrity and reliability of the BBC as a news source and scoffed at people who used it but because in this case it supports your argument it seems you feel its reliable.Thats how it looks anyway.

I aint questioned the intergrity of every news piece from the BBC.You seem consfused.Not everything on the BBC news website is unreliable but most is to spew there propergandaUse your common sense.

Not confused at all, I'm sure if you were to ask most people on here who've spoke to what your opinion of the BBC is they'd say something similar.So how do you decide which ones are reliable and whic aren't, the ones that reflect your point of view are reliable are and the ones that dont aren't?

[djbmc]

massive c/s to flojo, not just thun but a lot of ppl on this site will use mainstream media to back up a point but if corellates with ther argument, and f it doesn't they discredit the source saying it's NWO propaganda. And at the end of the day, if this NWO thing exists u couldn't ACTUALLY tell me that they weren't controlling info wars, could u?

[Thun]

BBC a relaible source now?

Who stated that everything is unreliable?

You have repeatedly questioned the integrity and reliability of the BBC as a news source and scoffed at people who used it but because in this case it supports your argument it seems you feel its reliable.Thats how it looks anyway.

I aint questioned the intergrity of every news piece from the BBC.You seem consfused.Not everything on the BBC news website is unreliable but most is to spew there propergandaUse your common sense.

Not confused at all, I'm sure if you were to ask most people on here who've spoke to what your opinion of the BBC is they'd say something similar.So how do you decide which ones are reliable and whic aren't, the ones that reflect your point of view are reliable are and the ones that dont aren't?

Your trying to tell me you cant tell when you read bullshit and properganda? Do you just believe what they tell you because you cant decide what is reliable and what is not. Thats why we have a mind to reserach and make our minds up what is properganda and what is not.If we all thought like you we would believe every piece news of what the mainstream media feed us and not question it.

[Thun]

massive c/s to flojo, not just thun but a lot of ppl on this site will use mainstream media to back up a point but if corellates with ther argument, and f it doesn't they discredit the source saying it's NWO propaganda. And at the end of the day, if this NWO thing exists u couldn't ACTUALLY tell me that they weren't controlling info wars, could u?

Who stated that everything in the mainstream media is false. There are people who do a good job but I would say most is properganda.I posted up articles from mainstream and alternative media.You need to use common sense and independent research to verify various facts.It would be stupid and gullible to believe everything the mainstream media tell us. That is why we are in the position we are in because you got mindless sheep only believeing mainstrem media and not looking into other news from alternative media because there minds dont allow them.Maybe you should do research into Infowars before commenting on who controls it.

[djbmc]

massive c/s to flojo, not just thun but a lot of ppl on this site will use mainstream media to back up a point but if corellates with ther argument, and f it doesn't they discredit the source saying it's NWO propaganda. And at the end of the day, if this NWO thing exists u couldn't ACTUALLY tell me that they weren't controlling info wars, could u?

Who stated that everything in the mainstream media is false. There are people who do a good job but I would say most is properganda.I posted up articles from mainstream and alternative media.You need to use common sense and independent research to verify various facts.It would be stupid and gullible to believe everything the mainstream media tell us. That is why we are in the position we are in because you got mindless sheep only believeing mainstrem media and not looking into other news from alternative media because there minds dont allow them.Maybe you should do research into Infowars before commenting on who controls it.

i didn't say just u and no ones says everthing in mainstream media is false but i don't think it's right how EVERYONE, regardless of their opinion can discredit a mainstream media outlet to validate their own point of view. I remember when someone posted a link to that racist forum and they had a whole section dedicated to the propaganda of the mainstream media and the conspiracy to keep the white man down. And if the illuminati are so far reaching how do u know they aint controlling the "alternative" information sources?

[Thun]

massive c/s to flojo, not just thun but a lot of ppl on this site will use mainstream media to back up a point but if corellates with ther argument, and f it doesn't they discredit the source saying it's NWO propaganda. And at the end of the day, if this NWO thing exists u couldn't ACTUALLY tell me that they weren't controlling info wars, could u?

Who stated that everything in the mainstream media is false. There are people who do a good job but I would say most is properganda.I posted up articles from mainstream and alternative media.You need to use common sense and independent research to verify various facts.It would be stupid and gullible to believe everything the mainstream media tell us. That is why we are in the position we are in because you got mindless sheep only believeing mainstrem media and not looking into other news from alternative media because there minds dont allow them.Maybe you should do research into Infowars before commenting on who controls it.

i didn't say just u and no ones says everthing in mainstream media is false but i don't think it's right how EVERYONE, regardless of their opinion can discredit a mainstream media outlet to validate their own point of view. I remember when someone posted a link to that racist forum and they had a whole section dedicated to the propaganda of the mainstream media and the conspiracy to keep the white man down. And if the illuminati are so far reaching how do u know they aint controlling the "alternative" information sources?

I always post information to refute something if it was in the mainstream media. What you got to understand is there is a lot of bullshit mixed in with the alternative media to try put people off. You will get them sites that have dis-information but that does not mean you should switch off from it all as there is truth to be found and a wealth of information when you know the right places to visit. I aint seen anyone on here discredit all of the news on a mainstream media website or newspaper but I have seen people calling out the properganda and crap.You cant just say that because some racist forum posted dis-information that you should disregard all of it from other more reliable sources. Thats what they want you to do and you are doing exactly that.Dont know about the illuminati as they died out years ago. They was powerful secret society at some point in history.