Thread: The Stock Market will TANK any day now!!!
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Default Re: The Stock Market will TANK any day now!!! - 03-16-2010, 09:27 PM
Brother Worthington, you're not the only one who believes this!

http://docudharma.com/diary/19752/wh...edip-recession

Quote:
A growing expectation of a double-dip recession is evident in a new poll of financial executives...the poll found more than half of financial executives predicting another downturn, and most expecting jobs recovery to lag into 2011.
Why? http://www.pbs.org/wgbh/pages/frontl...ews01s3b5bq793

Quote:
PAUL SOLMAN: What would you have us do about the major financial institutions as they currently exist?

WILLIAM BLACK: First, stop them from getting bigger. The 19 largest institutions are what we call systemically dangerous institutions. Many of them are already insolvent on any real market value basis.

PAUL SOLMAN: What do you mean insolvent? I mean, they're reporting large enough profits, that they can give bonuses to their employees.

WILLIAM BLACK: They were able to get Congress to extort FASB, which is the Accounting Standards Board, to change the rules, so that you no longer have to recognize losses on your bad loans, unless and until you actually sell them.

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