I guess HSBC is going to become the world's #1 bank then. Also, they have very little CDO exposure, almost nothing when compared to Citi.J wrote:Looks like Citibank is in trouble...
There is no recession, the economy's doing great!
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Xisiqomelir
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It did happen months ago. Right around when the dollar shot drastically up and one of the Big Three went on strike, Ontario lost 14,000 jobs. Mostly manufactoring like you said before.brianeyci wrote:
Yes, heavy hits in manufacturing.
If it was the stronger dollar it should've happened months ago, and why didn't the economists predict it? Plus the dollar has been cooling off lately.
M1891/30: A bad day on the range is better then a good day at work.
It'll be interesting to see what happens this week when the major financial institutions release their fiscal results. I'm wondering if investors will be dumping a load of cash into energy futures and driving up the prices or pulling out all their money from energy & other commodities to pay off their bad debts.
Lusankya: Deal!
Say, do you want it to be a threesome with your wife? Or a foursome with your wife and sister-in-law? I'm up for either.
More and more parallels. I'll look up the Saturday article when I get home today, but we had banks laying off thousands and taking billions and billions of losses, the Citibank article is a really loud echo from the early 90s for us...
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Why is it so goddamned hard to get little assholes like you to admit it when you fuck up? Is it pride? What gives you the right to have any pride?
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GOP message? Why don't they just come out of the closet: FASCISTS R' US –Patrick Degan
The GOP has a problem with anyone coming out of the closet. –18-till-I-die
Why is it so goddamned hard to get little assholes like you to admit it when you fuck up? Is it pride? What gives you the right to have any pride?
–Darth Wong to vivftp
GOP message? Why don't they just come out of the closet: FASCISTS R' US –Patrick Degan
The GOP has a problem with anyone coming out of the closet. –18-till-I-die
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Androsphinx
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Oil was below $94 yesterday, though that seemed to be more about the non-recession than a need to pay debts.aerius wrote:It'll be interesting to see what happens this week when the major financial institutions release their fiscal results. I'm wondering if investors will be dumping a load of cash into energy futures and driving up the prices or pulling out all their money from energy & other commodities to pay off their bad debts.
"what huge and loathsome abnormality was the Sphinx originally carven to represent? Accursed is the sight, be it in dream or not, that revealed to me the supreme horror - the Unknown God of the Dead, which licks its colossal chops in the unsuspected abyss, fed hideous morsels by soulless absurdities that should not exist" - Harry Houdini "Under the Pyramids"
"The goal of science is to substitute facts for appearances and demonstrations for impressions" - John Ruskin, "Stones of Venice"
"The goal of science is to substitute facts for appearances and demonstrations for impressions" - John Ruskin, "Stones of Venice"
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Setesh
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I'm hovering between rage and laughter at the idea we aren't actually in a recession. Financially I was less fucked during the 'declared' recession than I am right now.
"Nobody ever inferred from the multiple infirmities of Windows that Bill Gates was infinitely benevolent, omniscient, and able to fix everything. " Argument against god's perfection.
My Snow's art portfolio.
My Snow's art portfolio.
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Einhander Sn0m4n
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Oh agreed and seconded in spades! I'm thinking our moving back from Texas (the land of okay cost of living and high wages for nurses) to Louisiana (the fucked-up Asshole of America where wages are shit, costs of living are high, politics is ineffective corrupt do-nothing fuck-all, and Peak Oil and Global Warming are lining up to gangbang the state to death) was a big mistake.Setesh wrote:I'm hovering between rage and laughter at the idea we aren't actually in a recession. Financially I was less fucked during the 'declared' recession than I am right now.
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Darth Wong
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Yes, but Bill O'Reilly is doing fine, as are many other wealthy people. You have to look at the "big picture".Setesh wrote:I'm hovering between rage and laughter at the idea we aren't actually in a recession. Financially I was less fucked during the 'declared' recession than I am right now.
"you guys are fascinated with the use of those "rules of logic" to the extent that you don't really want to discussus anything."- GC
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http://www.stardestroyer.net/Mike/RantMode/Blurbs.html
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Fingolfin_Noldor
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Well, the question would be HSBC's exposure to the UK market which is having similar problems.Xisiqomelir wrote:I guess HSBC is going to become the world's #1 bank then. Also, they have very little CDO exposure, almost nothing when compared to Citi.J wrote:Looks like Citibank is in trouble...
Your spirit, diseased as it is, refuses to allow you to give up, no matter what threats you face... and whatever wreckage you leave behind you.
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Broomstick
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Citi has been through this before - back in the early 1980's I left working for them at a time when they were having lay-offs and selling off lines of business due to bad debts.
A life is like a garden. Perfect moments can be had, but not preserved, except in memory. Leonard Nimoy.
Now I did a job. I got nothing but trouble since I did it, not to mention more than a few unkind words as regard to my character so let me make this abundantly clear. I do the job. And then I get paid.- Malcolm Reynolds, Captain of Serenity, which sums up my feelings regarding the lawsuit discussed here.
If a free society cannot help the many who are poor, it cannot save the few who are rich. - John F. Kennedy
Sam Vimes Theory of Economic Injustice
Now I did a job. I got nothing but trouble since I did it, not to mention more than a few unkind words as regard to my character so let me make this abundantly clear. I do the job. And then I get paid.- Malcolm Reynolds, Captain of Serenity, which sums up my feelings regarding the lawsuit discussed here.
If a free society cannot help the many who are poor, it cannot save the few who are rich. - John F. Kennedy
Sam Vimes Theory of Economic Injustice
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Admiral Valdemar
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Not like this. Not this big a bad debt (which we're not even anywhere near to over with), and not something infecting every other financial sector. Additionally, at a time of dwindling resources, increased commodities prices and recession leading on to depression, expect the term "bank run" to be common again.Broomstick wrote:Citi has been through this before - back in the early 1980's I left working for them at a time when they were having lay-offs and selling off lines of business due to bad debts.
There's no reason at all to believe Citi is immune to what took down the Rock.
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Broomstick
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Oh, I didn't mean to imply that Citi was in any way immune to anything - just to say that this isn't the first time they've had problems with bad debts. Last time the rest of the economy wasn't so bad off - this time it is. We'll see how it shakes out.
Frankly, I HATE Citi, it was a soul-destroying place to work when I was (briefly) there, I doubt that's changed.
Frankly, I HATE Citi, it was a soul-destroying place to work when I was (briefly) there, I doubt that's changed.
A life is like a garden. Perfect moments can be had, but not preserved, except in memory. Leonard Nimoy.
Now I did a job. I got nothing but trouble since I did it, not to mention more than a few unkind words as regard to my character so let me make this abundantly clear. I do the job. And then I get paid.- Malcolm Reynolds, Captain of Serenity, which sums up my feelings regarding the lawsuit discussed here.
If a free society cannot help the many who are poor, it cannot save the few who are rich. - John F. Kennedy
Sam Vimes Theory of Economic Injustice
Now I did a job. I got nothing but trouble since I did it, not to mention more than a few unkind words as regard to my character so let me make this abundantly clear. I do the job. And then I get paid.- Malcolm Reynolds, Captain of Serenity, which sums up my feelings regarding the lawsuit discussed here.
If a free society cannot help the many who are poor, it cannot save the few who are rich. - John F. Kennedy
Sam Vimes Theory of Economic Injustice