C going under?

Quote from Ticketwatcher:

<p>This country may be finished, but I ain't sure it is about C. The American people have done their darnedest keeping sitting Representatives and sitting Senators from the Presidency. But this year, it seems they have no choice. One of those three buffoons is going to be President. The opinion polls say that Congress has an approval rating of 10 to 15 per cent which makes Bush look like a prom king in comparison. Talking heads and the pundits can blame the market tanking on sub-prime and a lot of other things. But it seems to me, that the market started tanking when it came to the conclusion that this is an election unlike no other, and either of three do not offer much in the way of solutions except more empty promises, stupid laws, and more incompetent bureaucracies.
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10-15% approval ratings for congress, yet, 85% of them are re-relected every year. F*cking pathetic. We get what we deserve from our government.

If we could get half as much attention to the real issues facing the US that Brittney Spears and American Idol get, we might get somewhere.
 
Quote from dsq:



As for c going bust etc... it has seen similar drama around 1990-91 period.I remember chase,citi and chrysler were single digits.Anybody remember shawmut,bank of boston?!!
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But in 91/90 there was something good to look forward to. Declining inflation, declining interest rates from higher levels, the beginning of the internet revolution, end of cold war, America the superpower, etc. What are the catalysts in this case? We have the exact opposite picture.
 
i wonder what US banks get broken up and have their parts auctioned off to other banks?

at some point bailouts won't work, a real solution will be needed.
 
Quote from GGSAE:

I wonder how many ETers are holding the bag, trying to catch the falling knife. Jim Rogers is looking prophetic when he predicted it would go down to the teens.
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its not just ppl here, billy miller is one of those bag holders. i couldn't believe when i seen him mention over a year ago that risk spreads said stocks should go higher.

can't believe him and so many others went for 'value' in financials when commodities were much better plays.
 
Quote from flyingiguana:

i wonder what US banks get broken up and have their parts auctioned off to other banks?

at some point bailouts won't work, a real solution will be needed.
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gummint brokered mergers (after split into good bank bad bank) as an alternative to failures and bank runs.
 
Looking at the weekly chart of Citigroup I consider it a buy especially so when looking for long opps off shorter time frame charts keeping stops as small as possible, potential reward is there alright.
 
Quote from riskfreetrading:
But in 91/90 there was something good to look forward to. Declining inflation, declining interest rates from higher levels, the beginning of the internet revolution, end of cold war, America the superpower, etc. What are the catalysts in this case? We have the exact opposite picture.
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lol you're joking right? How would people know of the "internet revolution" in 1990? Anyways, here are some headlines of 1990/91. They read just like today's.

"1990 INFLATION RATE OF 6.1 PERCENT HIGHEST SINCE '81"
Lexington Herald Leader - NewsBank - Jan 17, 1991

"Fuel prices boost inflation Rise is highest since '81"
Dallas Morning News - NewsBank - Sep 19, 1990

"Inflation Spiral or Recession: Which Is Worse?"
Los Angeles Times - ProQuest Archiver - Sep 2, 1990

"TOUGH CALLS AWAIT FED INFLATION, RECESSION THREATS LIMIT ACTION"
Roanoke Times - NewsBank - Aug 21, 1990

"1990 inflation hit 9-year high Prospect of war remains a question"
Milwaukee Journal Sentinel - NewsBank - Jan 16, 1991

"A 1990 recession could be deep and painful. Most economists agree that the record borrowing binge of the 1980s has left the U.S. economy's private sector singularly unprepared for tough times. Worse still, the Government's fiscal profligacy in those years has drained it of any reserves that could be used to counter recessionary forces." Time Magazine, Monday, Feb. 12, 1990
 
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