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A tax like that hurts those with lower incomes more. If you make a 3 dollar loaf of bread 3.30 it hits lower incomes much harder than higher ones. This is a tremendous flaw and will never see the light of day.

Wonder how much it takes to put an sec worker in your pocket

Apparently to you.. it is rocket science because you don't understand. Most of those extra costs are legacy. In other words pensions for people who are gone, not the guy on the line. The guy on the line is NOT making 73 an hour including his benefits.

Futures calmed, still down but not as bad. Hope coming from white house, Bloomberg tv says white house now weighing options.

I'm not the one who needs to get a grip. A chain reaction will be let loose. And the only way out of chap 11 will be congress financing. There will be no other money. And the damage to the economy wont be undone by that financing. We are going to lose all technical levels. Enjoy your...

All of us. Dont feel guilty. We are All fucked. Unless you are from another country laughin at the collapse.

Yea it is serious. This is what everyone seemed to want though. Everyone thought it was so much better to let the big 3 go. They are more important than people think. We are now in a depression. And I do believe most people wanted this for some reason.:confused:

Wall Street goin down. All those elites who thought they were above this, just invited in Depression. And Michigan is fucked beyond belief. The concentration of job loss is going to be sick. I have always voted Republican, what a fool I have been. 700 billion and 0

Gone, listenin now, its over BK

What would you get long? Index or is there anything you think would outperform?

Interesting. GE member since 1896. Edit, looks they took um off then put back on 1907

Class warfare. Aig will get anything they want. Who is more to blame? Gambling away our economy, writing insurance of leveraged money that doesn't even exist, or... Some guy working for 30 an hour and getting his family covered for health and job loss? Aig, Bear, Lehman, GS, JPM are...

Grabbed some puts on GM.. not much. Either way stock is garbage most likely. I would grab more if GM ever went to 10. Since its so low, it just felt too much like gambling. It feels like a sure thing... but who knows. I think if they let GM go, we wont hold lows.

Very good points. I don't think people here realize this is not about the auto industry anyway. Once they see many other companies failing, they will understand how credit is wrecking havoc on main street. And they will realize very very soon, the damage of BK in the CDS market. Let them...

How credible is this source? A large claim that EU will just remove itself from the system and start a collapse. And this would suggest a serious lack of coordination between central banks. Im not saying this source is not credible. I am a noob, and just wondering. Thx

We had a massive sell off only weeks ago. We will probably have another one, but the recent sell off was not unjustified. It was in large part for the confirmed news we see today. Wont go to zero in a straight line.

Thx

With the planned spending on infrastructure, would it would easier to play the metals than companies who stand to benefit? If China is going to try and build its way out, Steel is tempting. But it could take some time and I would lose out. Timing is something I struggle with. I think I...

They dont have the votes, everyone on tv wants to take it out of the unions hide. They may very well go into bk, and down we go. There are no smoke and mirrors about not having the votes. It is as it seems.

Good. Wall Street will feel this one.