You *do* realize that The Bingster gets paid per response, n’est pas?

Secondly, it’s very easy to blame this whole economic meltdown on Wall Street, but the blame needs to be shared by everyone. People talk about the banks adding too much debt to squeeze profits? How about all the Americans who have been irresponsibly using their credit cards and spending money that they don’t have? People talk about the banks dicing and distributing exotic securities that they didn’t really understand? How about all the Americans who greedily bought homes with 0% cash using those securities, trying to get something for nothing? And how about the federal government, watching all of this happen, happily collecting the fat taxes from both consumers and corporations and enjoying the goodwill given to the government during all financial booms.

Do you see the trend here? We’re all guilty of the same sin – greed. And you would do well to try to calm the masses with your articles instead of inciting more anger, which only hurts the markets. If you think the fallout resulting from the failing of the rest of the American investment banks is going to be limited to the financial sector, you need to get a clue.

This is not an isolated economic problem. Investment banks DO contribute to this economy and in the coming economic storm you’d better hope we have more of them rather than less.

Wake up from your ignorance and try to solve this problem instead of being part of it.

Ignorance must be bliss for you. Maybe your rich, or always have been, but for the middle class we are watching our 401K’s disinegrate, vanish, dissapear. Companies can’t afford to pay retirement plans anymore either. So maybe you don’t realize how it works, but without us losers, you would never have made any money, nor would have any of the other ceo ***holes. I don’t understand your lack of compassion for people who are struggling to feed their families, I just don’t get it.

I’m sure karma will give you yours soon enough, your from Texas, you should beleive in the Bible, see you in hell…

I wish they would have let Texas cecede all them years ago, then we would have never had to meet good ‘ol Georgie Boy.

After all how many times can they continue to peddle ‘I hate my yellow teeth’ ads before advertisers realise they are throwing their money down the drain.

The rich are still getting rich. The poor are getting poorer. The middle class are stuck in an endless cycle of mediocrity and stagnation.

I know that it feels good for small people to see these huge corporations falter. But the guys at the top really aren’t suffering. They pulled out their money a long time ago and have it reinvested in other things. A few of the top guys are suffering. But this is only because they were not smart enough to put their cash in other places.

I see no problem with what is happening in the financial world. The weak corporations will crumble, and new titans will take their places. All of the meanwhile, the small fries that are groveling, complaining, lamenting, and shaking their fists will still be poor and will pass that poverty down to the next generation.

Laugh if you want. You will still be nobody tomorrow. All of you who are complaining are simply losers who did not know how to manipulate the markets and gain financial independence.

Get a life.

Just an FYI–the last 3 years has seen the largest mass EXODUS of financial institution CEO’s and Executives than anytime in the past 25 year history. This may be largely in part because most industry executives were well aware that the mortgage crisis was looming on the horizon. There was plenty of bad-debt stacking up with the onset of regulatory changes prior to new rules governing personal bankruptcy filings.

Shortly thereafter, financial institutions had an over abundance of bad dept. on the books i.e… (Houses, Boats, Cars, SUV’S, Planes, R.V’’s and more). Instead of clearing this mess off the books early on, it was held onto for years with hopes that the economy would heal thy-self by means of a Fed-Fund rate reduction and strong rebounding robust economy. In that event, all would be status-quo and the debt could slowly be written off as usual, while recovering part of those loses via other profit incentive means, which did not quite happen according to plan. Thus the bad debt stayed on the shelf, year after year, until some CEO’s saw the hand writing on the wall and decided to jump out of the ship with the golden chute and leave their fledgling underlings pulling the strings and doing a free-fall to an uncertain demise.

In 2004 the S.E.C. and Justice Dept. were informed of and fully aware that this type of activity was in the works. Through the efforts of financial lobbyists and campaign contributions, the regulatory changes on the financial sector were underway for the worst abusers but still minimal to most because it was everywhere. This was mostly done to calm the tirades of Congressman Schumer and other legislative oversight leaders. Federal hands were somewhat tied in red-tape to actually having any substantial teeth in legislative oversight. The gears moved too slowly.

There were attempts at some regulatory and oversight changes within the FDIC and NCUA to help deter greedy “Golden Parachute” executives, which was and still is undermining our U.S. economy and the impending disaster unfolding on international television. Obviously, from a regulatory standpoint this message was not strong enough for the financial sector and other GREED-FACTOR executives looking for the fast and furious 5-30 plan. (5 years of service – makes 30 years worth of money)

You may want recap the AIG previous RULER, I mean CEO and his Sons internal fiasco, which exemplifies how this kind of mess was started to begin with.

God save the 401-K.

=jlv=

How will all these fallen dynasties impact Social Security??????????

the pot of gold for our senior years is our national debt!

How in the world could you say WE GOT YOU INTO THIS. Did we bundle all the mortages into high risk investments? Did we ignore all the glaring signs of a bubble and eventual bust? Did we write loans designed to fail? Did we play around with your life, or did YOU play around with ours?

Maybe you are unemployed because your the moron who doesn’t understand your own job. Let me explain just a piece, the bust has been caused by scares in the market, which lowered prices and raised interest rates to a level that was no longer affordable, even though it was promised that that wouldn’t happen. PLain and simple YOU saw how much money you could make quickly and ignored that YOU were betting on adjustable loans that could collapse at any time. THe entire economy must suffer now because of Wall Steet’s ignorance, not mine. Maybe you should think about a new career, how about ethics, where their are more important things than MONEYYY.

Well written article. I fear that the true leaders of this financial mindset of ruin will walk away scott free, but hopefully the executives of tomorrow will go back to the days of doing what is best for the country and economy and not for the quick buck.

Reap the whirlwind.