700$ voted AGAINST!!

  Animalmagic 19:09 29 Sep 2008
Locked

OMG this is very worrying

  Animalmagic 19:10 29 Sep 2008

700$ BIllion bill that was expected to of been passed has shockingly failed...the markets are all over the place...

  peter99co 19:16 29 Sep 2008

The Dow plunges click here

  GANDALF <|:-)> 19:23 29 Sep 2008

The amount owed in leveraged debts in The States is $64-$68 trillion.....the $700 would be like throwing a cup of water onto a burning haystack. It was never going to work. /sigh

G

  Legolas 19:30 29 Sep 2008

Wur doomed, doomed I say doomed

  Animalmagic 19:31 29 Sep 2008

Just noted a new york market agent stated the 700 billion isnt that much when u consider fanny mea & leahman brothers had assets over a 2 Trillion Dollars so this will make things much worse.

  sunny staines 19:32 29 Sep 2008

why did they not insure themselves against bad debt?

  GANDALF <|:-)> 19:39 29 Sep 2008

Fanny Mae's assets are 'ahem'...houses which are worth diddly squat in the States. Lehman Brother's debts far out-stripped their assumed assets. As an example, one of 3 new build 4 bed detached, near me, has just been sold. The houses were on the market for £349,999 and had not been sold in 9 months. The one sold last Friday went for £165,000. If I was a buy-to-let landlord I would be getting ready to leap of the Clifton Suspension Bridge.

G

  peter99co 20:43 29 Sep 2008
  charmingman 21:05 29 Sep 2008

Does anyone have any idea whats the worst this can all mean & where does it affect "Joe Bloggs" (Us)

  MAJ 21:13 29 Sep 2008

No more new 'Homes under the Hammer' programs for a while.........

Thankfully my mortgage is paid off and I don't owe the banks any money. Now if I could do without a car and food, I'd be set. But hey, it's all Gordon Brown's fault isn't it?..........

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