Meltdown!

[Randip Singh]

:8-Financial meltdown is underway :8-

thoughts? anticipations? oppurtunities?

with;
Bear Sterns
Lehman
Fannie
Freddie
Washington Mutual

all down the drain!


Do you guys think American international Group (AIG) will tank?

the implications of such a large insurance company going under is dier, the scar would loom on the market for a long time and would create an absolute mess.

will government step in to finance their debt? perhaps a foriegn government if not the US?

scary times...hold your breath for to long and you'll die of asphyxiation

cheers

What would the Sikh perspective be on this?

Would is be something like this, people who were obsessed with Lobh, were so consumed with Krodh that even when they had lots they still wanted even more Moh, and when times stated to get bad they were still in denial because of their Hankaar?

 

[spnadmin]

Randip ji

The amount of money personally acquired by the people at the top of these corporations was obscene. Based on selling illusion to anyone who was too lazy to do their homework and to investment counselors who were to proud to admit they did not understand "financial derivatives." The people at the top are walking away with millions, mansions, and their wives are complaining because they can't afford the social risks of plastic surgery and expensive nannies for their children until the dust settles and no one is paying attention, once again. Everyone else who tried to do the prudent thing and put what they could away for retirement (so as not to be a burden on their children and the government in old age) are looking at 30 to 50 percent losses in retirement plans -- all that they could manage to save. And there is no where to invest if you have anything left to invest. Bonds, mutual funds, insurance -- all tanked.

And the American financial markets brought the rest of the world down with them. We are not talking about a class of people who are capable of moral reflection. What would Sikhi say about this? Bhagat Trilochan Could be he had it right?