The financial crisis is real!!!
The financial crisis on Wall Street has finally gotten to my IRA account. Just like many Americans that invested in Wachovia, i have lost 95% of the value. This is a bank failure, contrary to what FDIC is saying, it is time for folks to pay attention to their investment. This is really bad and something needs to be done quickly before the whole financial system collapse.
Personally, i am mad as hell. It seems to me this financial mess is bigger than what the folks in Wall Street are telling us.
The question now is: Which Bank will go bankrupt next?
We've seen two banks go under the water within 7 days. Bottom line, the economy is extremely bad.
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It is very real, trying not to panic, but I doubt we know the real story & if we did there are very few who understand all the facets of a very complicated system. To me there is no doubt the shyters are still very much out there.
Please let this country elect the man that will be straight with us. The 'I want everything NOW mentality is over!
September 29, 2008 11:32 AM | Reply | Permalink
We've known for a while that the economy is in bad shape, and the sub-prime crisis' "ripple effect" through the rest of the economy has been predictable for at least a few months.
But it's not at all clear that going $700 billion further into debt to bail out companies that made stupid investment decisions is going to help the economy recover.
September 29, 2008 1:43 PM | Reply | Permalink