weswelker#83

Live US coverage of overseas markets after hours, calling it a "global selloff".

http://media.cnbc.com/i/CNBC/Section...cnbc_live.html


More info:
http://biz.yahoo.com/ap/080316/world_markets.html

DarrylS

We will see about the domino effect, Greenspan is concerned, said something to the effect that the economy is in its worst shape since WW II, not sure how he cannot take some of the blame as he has only been gone for about a year now.. short term memory loss.

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otis p. driftwood

He said more along the lines of "there are always cycles and we'll have to see where it comes out" didn't he? One of the reasons I never cared for him is his inability to give a straight answer to a question.

And yes, you're correct, much of the blame rests with him. Good call.

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Patters

Greenspan is responsible for managing the economy under this president who made reckless tax cuts, incurred massive debt, destabilized the world economy by pushing for the weak dollar, and allowing US corporations to create foreign tax shelters to avoid paying billions in US taxes. Given the limited tools Greenspan had to work with, I think he did quite well keeping our economy afloat for 7 of Bush's miserable years.

otis p. driftwood

Aren't you forgetting something?

Hint: put aside your Bush hatred a moment and look at the record.

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wistahpatsfan

Wait a minute...Bush can be blamed for being asleep at the wheel, letting everyone else do the "thinking stuff", and not caring about his country, but you can't lay all the blame for this at his feet. Only I hate him enough to do that. Bush never had enough brains to begin to do things like "creating foreign tax shelters"...he was way too busy "decidin 'n' stuff" to pay attention to what Greenspan and his filthy cohorts on Wall Street were up to. Thing is, though, if I had all my tools on a job site and left them lying around unlocked overnight, I shouldn't blame anyone the next morning when they're all gone. There's still someone else out there who stole them, though.

Bush gave Greenspan (and everyone else) the green light and he used it. This guy's a negligent, POS traitor to his country. This recession (or, help us, depression) might turn out to be the worst one in memory. The neocons are pulling a scorched earth on the way out and McCain (and all of Congress) will pay for this in November. Time for term limits yet?

otis p. driftwood

Damn. Are you the brother they never told me about?

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wistahpatsfan

Doubt it. My brother's a hard-core Hillary leftie from Cambridge.

weswelker#83

LEHMAN down almost 21% as of now.....

any guesses as to who will buy LEH?

mcgraw_wv

If the Fed backs the losses, I would say JPMorgan...