View Full Version : DOW collapses
egbutler1
05-06-10, 02:28 PM
DOW collapses, Greece is falling thanks Goldman sachs. :mad:
NakAttack
05-06-10, 02:34 PM
Yeah I saw the DOW is below 11,000 again. Got kinda sad. On the bright side I was happy Google went up :)
EDIT: Dammit, I checked again and even Google went down today :(
AAV Crewchief
05-06-10, 02:58 PM
And to think I almost thought it was safe to start investing again....I have been out of the market since Oct 2008.
egbutler1
05-06-10, 03:01 PM
**** my advice stay out invest in ammo and weapons
thewookie
05-06-10, 03:11 PM
The Greek govt on some level must have been complicit with Goldman Sach deals and while they may not have understood some things -- I guarantee some blame lies with the Greek govt.
Even if Goldman deserves the lion's share of the blame.
GS simply assisted Greece with an off-balance sheet transaction, similar to a real estate leaseback. I think Greece's fiscal situation is amazingly self-inflicted. The interest rate swap was a standard transaction, and I am assuming that the Greek officials knew that their fiscal situation would get worse in the near future. Govts make these decisions on a daily basis. GS, just like anyone else, would have to assume that the Greek govt was "sophisticated" enough to know what they were getting into.
This is just my two cents... carry on.
Kegler300
05-06-10, 05:07 PM
Fannie and Freddie need more bailout money...
Sgt Leprechaun
05-06-10, 11:43 PM
It's not just GS to blame. The Greek economy has been a tottering socialist nightmare for many, many, years, with ridiculously high taxes, massive social and gov't spending on 'the people', a bloated gov't, and decaying infrastructure. This was predicted for years by anyone who was familiar with the situation.
brian0351
05-07-10, 01:35 AM
Agreed...just read about Greek social programs. Essentially EVERYONE gets money for doing nothing. Example...the unwed daughters of a Government Employee can inherit his pension.
...and that 1000 point drop was attributed to a computer failure. How scary is that...that our economic health is reliant on a computer program. We can't trust computers to kill without human authorization...but we trust the life blood of our economy on them.
Old Marine
05-07-10, 08:41 AM
its G.W. fault
Probably more truth to that than you think.
yellowwing
05-07-10, 10:16 AM
A financial crisis in Greece has a global effect. Who says we are not One World?
jetdawgg
05-09-10, 09:57 AM
http://common.tycoonresearch.com/assets/image/05192009_brady_bunch.jpg
http://upload.wikimedia.org/wikipedia/en/thumb/5/56/Brady_Bunch.jpg/295px-Brady_Bunch.jpg