Banking system collapse?

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WeLuvIbiza

Active Member
Seems like only a matter of time now.


The western world as we know it will be a thing of folklore in a few years time.


When a professor spoke of the possibility (of the modern banking system collapsing) several months ago on r4, I thought he was a typically eccentric prof with typically nutty ideas.


It's hard to believe what is actually happening right now.:eek::eek::eek:
 
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WeLuvIbiza

Active Member
The FBI has begun an investigation into four major US financial institutions caught up in the current financial crisis, US media say.
Investigators are reportedly examining possible fraud by mortgage giants Fannie Mae and Freddie Mac, the failed bank Lehman Brothers and insurer AIG.
Top managers at those firms are also being investigated, the reports say.
In the past year, as the US housing market slumped, the FBI began a broad inquiry across the financial sector.
It was prompted by concerns over the way high-risk, "sub-prime" mortgages were being sold. The FBI has been looking at lenders who sold home loans to buyers on low or unpredictable incomes and also the investment banks that packaged these loans and sold them on.

(c) bbc


Not before time.
 
Buckley

Buckley

Well-Known Member
WeLuvIbiza said:
Seems like only a matter of time now.


The western world as we know it will be a thing of folklore in a few years time.


When a professor spoke of the possibility (of the modern banking system collapsing) several months ago on r4, I thought he was a typically eccentric prof with typically nutty ideas.


It's hard to believe what is actually happening right now.:eek::eek::eek:
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It'll stabilise if Bush's bail out gets through Congress. My guess is fear of the unknown will push it through, even thought the American public are opposed to bailing out greedy bankers.
 
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WeLuvIbiza

Active Member
Buckley said:
It'll stabilise if Bush's bail out gets through Congress. My guess is fear of the unknown will push it through, even thought the American public are opposed to bailing out greedy bankers.
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Agreed, that would be some darned bail out. I was thinking it wouldn't happen after seeing the most recent talks, hopefully congress were just playing a tough game.

I suppose it's no time for congress to moralise about the tax payers getting zlich in return.
 
Buckley

Buckley

Well-Known Member
WeLuvIbiza said:
Agreed, that would be some darned bail out. I was thinking it wouldn't happen after seeing the most recent talks, hopefully congress were just playing a tough game.

I suppose it's no time for congress to moralise about the tax payers getting zlich in return.
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Although....my man in the city has just told me that part of the worry is that even the $700bn bail out isn't guaranteed to work!:eek:

*withdraws cash from bank and stashes under matress* oh and *buys gun from LagunaBeachLA*:lol:
 
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PepperHill

New Member
With a bit of luck it's the end of the World.

Looks like it's time to go out and get a full set of motorcycle leathers, a 1974 Ford Falcon XB Sedan and a sawn off shotgun and start hanging round with people with names like The Toecutter, Humungus and Tina Turner.
 
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WeLuvIbiza

Active Member
Buckley said:
Although....my man in the city has just told me that part of the worry is that even the $700bn bail out isn't guaranteed to work!:eek:

*withdraws cash from bank and stashes under matress* oh and *buys gun from LagunaBeachLA*:lol:
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thinks* "Thank god I have no dosh in the bank, and wonders if LagunaBeachLA could lend me a few SAM's, just in case mind"
 
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N8

Guest
Cash won't be any good Buckers, worthless bits of paper! Gold gold gold :D

Where is Bush getting the $700BN???
 
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N8

Guest
PepperHill said:
With a bit of luck it's the end of the World.

Looks like it's time to go out and get a full set of motorcycle leathers, a 1974 Ford Falcon XB Sedan and a sawn off shotgun and start hanging round with people with names like The Toecutter, Humungus and Tina Turner.
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It was an XB GT Coupe ;)
 
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N8

Guest
APPARENTLY it's all a terrorist conspiricy to bring down the Western World.

They put operatives in the banks and they triggered all the short-selling and other dubious activity!!!!!

;)
 
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WeLuvIbiza

Active Member
Sirens said:
As usual the tax payers are going to suffer hugely! The question is do we put up with this???

There needs to be a revolution!! :lol:
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Sounds like a plan in the making.:lol::lol: See if we can get brother Chewie onboard, he was stock piling nukes on another thread :idea:
 
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