FINANCIAL MARKET IN TURMOIL

Looks to be a rough go for Lehman, Merrill Lynch and AIG. Lehman with $60 billion on the books as trash, Merrill Lynch looks to be purchased by Bank of America at like $24 a share? and AIG looks to be in a bit of trouble as well. Im sure the Federal Govt will help with some of the damage, but it looks like most as of this morning have lost quite a bit in their investments.

I am by no means an expert win the financial world, but my advice is to "Stay the Course". Heck if you have the extra cash..you might consider buying some stocks at a discount hehe But whatever you do...make a caclulated decision as no one knows the future. Sub Prim morgages have kind of ruined the economy thus far and I dont see any light for a while. Financial experts have their predictions but predictions mean squat at this point.

Not sure how this is going to effect investments in the long run...if anyone has any insight...please let us know

Funny how the investment and banking sector didn't follow their own advice by not diversifying their own investments... Bubbles burst.

If you have a checking or saving account with either of these two your money is safe up to 100k (FDIC).

Now, your investments (401k) will be effected by the 500 point drop today in the stock market especially if you're heavily invested in stocks. But they will not be impacted by Merrill or Lehman biting the dust. Your 401k's is made up of other companies stock and funds. Merrill makes there money by fees and gains spilts. Now.. if you 401k is all in Merrill stock... it's pretty much worthless. :) Make sense?

If you're vested in money markets, the impact will be much less. As always, diversification is the rule. Slow and steady wins the race. I've seen so many people loose their ass at Williams because they had 75% plus in company stock. NEVER ! EVER do that because your ass isn't moving in with me when you retire! ;)

The thing to keep in mind.. The market tumble today is mostly a knee jerk reaction to the banking bad news. It will go back up. This is bargain time... BUY!

We saw the same thing back in the 80's with the S&L crisis. Banks giving loans to anyone and everyone. My Dad you to go and clean those up. I remember some of the stories and some of the rediculous loans they were handing out.

Same song, different verse.

Buy Buy Buy!!! MONDAY MONDAY MONDAY!!

I would expect it to drop a little more tonmorrow...

2006GT wrote:

If you have a checking or saving account with either of these two your money is safe up to 100k (FDIC).

I read a article that the FDIC has $50 billion in assets to cover $1 trillion in insured deposits. Lets hope they all don't fail...

I'm sueing! I'm never getting back my $17.29 am I?

2006GT wrote:I'm sueing! I'm never getting back my $17.29 am I?

Not as long as I get my $9.38 first!!! And I have AIG for car insurance so I'm really doing well today!!!