willay
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http://news.bbc.co.uk/1/hi/business/7641733.stm
So the plan to rescue the US financial system has been voted down, even before the decision was made we've seen quite a few banks come near melting point (and a few have melted into wet sloppy financial goo over the weekend). So the question is will tomorrow be the end of the world ? 
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James
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Registered: 1st Jun 02
Location: Surrey
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Wachovia 
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James
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Registered: 1st Jun 02
Location: Surrey
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Economy
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All Torque
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Registered: 17th Nov 05
Location: Milton Keynes Drives: Ford Focus TDCi
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Tesco shoppers
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Russ
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Registered: 14th Mar 04
Location: Armchair
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nah, some banks will go under, but they will be eatn by the safer banks. i know its not great news, but could be so much worse
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Robin
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Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
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I actually don't understand how any of this has happened and as there are no pictures, it hasn't.
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Matt H
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Registered: 11th Sep 01
Location: South Yorkshire
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The CERN experiment is working  Ten world will end!!
At least it'll mean the end of the DFS sale
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lil_g
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Registered: 29th Oct 06
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quote:
Originally posted by Matt H
At least it'll mean the end of the DFS sale
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willay
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asian markets fallen as predicted, our ecomony is next up today 
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Eck
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Registered: 17th Apr 06
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Well my employer has been taken over from Lloyds anyway so I'm safe 
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Cosmo
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Registered: 29th Mar 01
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quote:
Originally posted by Eck
Well my employer has been taken over from Lloyds anyway so I'm safe
Other than from the cost cuttings they will be making...
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Half Pint
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Registered: 25th Mar 02
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no you not, i work for lloyds and we are going to sack you all....
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FruitBooTeR
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Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
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Can someone who's quite smart explain what is going on and how it could possibly affect us so I don't have to read through all of that article....
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willay
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if banks etc default and go bust and owe money to other banks they can go bust or some crazy shit like that
Also the fact that the bank system is failing is not giving people confidence to buy their shares so the price is falling as people go into safer options such as gold and other commodities .
If the shares go low enough the banks can go bust, which can mean job cuts, which means large unemployment rates, which adds to the looming recession.
I think thats part of the potential problem we're facing.
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Jodi_the_g
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Registered: 7th Aug 01
Location: Washington D.C
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its not really potential willay its going to happen its just a case of recession or depression.
[Edited on 30-09-2008 by Jodi_the_g]
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willay
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oh dont get me wrong jodi, recession is going to happen if we like it or not. Its showing all the hallmark signs plus its good to start afresh. 
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Eck
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Registered: 17th Apr 06
Location: Lundin Links, Fife
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quote:
Originally posted by Cosmo
quote:
Originally posted by Eck
Well my employer has been taken over from Lloyds anyway so I'm safe
Other than from the cost cuttings they will be making...
That will mostly be affecting the branches etc. They are going to need our retail contact centre, FACT.
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Eck
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Registered: 17th Apr 06
Location: Lundin Links, Fife
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quote:
Originally posted by Half Pint
no you not, i work for lloyds and we are going to sack you all....
Then I will torch all your families.
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Half Pint
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Registered: 25th Mar 02
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Jodi_the_g
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Registered: 7th Aug 01
Location: Washington D.C
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I love it as I still get paid some money in £ so it works out great for me over here.
Plus they are all in tears about large companyies going bust and them no longer being a superpower.
Apperently its all chinas fault.
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Hammer
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Registered: 11th Feb 04
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There's nothing like a bit of economic depression to keep you warm through those winter nights.
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Jodi_the_g
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Registered: 7th Aug 01
Location: Washington D.C
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Though is the FTSE not up today?
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corsa - gus
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Registered: 8th Jan 07
Location: Aberdeen, Scotland
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There is a huge amount of money to be made from all of this though, so its not all doom and gloom
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Jodi_the_g
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Registered: 7th Aug 01
Location: Washington D.C
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quote:
Originally posted by corsa - gus
There is a huge amount of money to be made from all of this though, so its not all doom and gloom
Risky though, be alot more lossers
http://newsvote.bbc.co.uk/2/shared/fds/hi/business/market_data/overview/default.stm
Does this mean not one company made a gain on the DOW yesterday
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willay
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quote:
Originally posted by Jodi_the_g
Though is the FTSE not up today?
dropped roughly 200-300 points this morning on the open but has recovered. Wait until the yanks get on from 1.30 onwards
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