Oroborus

dnatree · Guest

This Morning they were using the term Mortgage Meltdown on the local news and about lack of transparency easing in banks and lending groups.

I thought about M and M's and how this meltdown IS in your hands and where the actual problem lies versus what the media and Washington is telling people. Is this a profit taking, a reaping by plan? Could loosing the dream of home spawn the exodus to find home?

I had forgotten watching this movie and the synchs involved. (about the damm bursting.) Here are the synchs that show up in the movie.

http://bluray.highdefdigest.com/iceagemeltdown.html

Ocean · Joined: 20 Sep 2006 Posts: 11165

(((DNA)))
for you and your family.
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"What you are looking for is what is looking."

Freespirit · Joined: 20 Sep 2006 Posts: 2454 Location: Land of Oz

((((DNA)))) may love heal all

It may have been a very personal (family) message too. But when i envisage a meltdown, i perceive an economic meltdown....

Freespirit · Joined: 20 Sep 2006 Posts: 2454 Location: Land of Oz

Just happened to find this when i googled "love meltdown" :GB:

http://www.ngangart.co.nz/index.php?PageID=11&ImageID=97

Brock · Joined: 20 Sep 2006 Posts: 6315

dnatree · Guest

Don't want to talk about all that is going on but many things have hit at once in my family and actually it feels like it is all right on track.

Thanks all for Your love for my folks.

dnatree · Guest

http://www.presstelegram.com/ci_8652218?source=rss

Financial meltdown raises worries of worst recession since WW II

WASHINGTON - It's been almost an article of faith: Any recession this year will be mild and brief.

But now the stunning meltdown of a top Wall Street investment bank and stubbornly persistent financial market turbulence has called that into question, raising fears that severe problems in housing and the nation's bedrock financial system could cripple the economy and wallop many millions of Americans.

No less an authority than former Federal Reserve Chairman Alan Greenspan wrote this week that "the current financial crisis in the U.S. is likely to be judged as the most wrenching" since the end of World War II.

Other noted economists are also sounding alarms. Harvard professor Martin Feldstein, the former head of the National Bureau of Economic Research, said recently he believes the country is now in a recession and it could be a severe one.

While it will be many months before the bureau's cycle dating committee, the unofficial arbiter of when recessions begin and end, makes its own ruling, a growing number of private economists already have a downturn figured into their forecasts. They are generally calling for a mild recession that will end this summer when the economic stimulus checks going to 130 million households start getting spent.

But the severe credit crisis that erupted last August - and claimed its biggest victim this past weekend with the forced sale of Bear Stearns Co. - is raising doubts about those mild forecasts.

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"Bear Stearns was a clear wake-up call. It resonates with everybody and highlights the severity of the stresses in the financial system," said Mark Zandi, chief economist at Moody's Economy.com.

What got people's attention was how quickly Bear Stearns, the nation's fifth largest investment bank, could go from a stock market value of about $3.5 billion when the market closed on March 14 to being sold at the bargain-basement price of about $236 million two days later.

The Federal Reserve rushed in to take unprecedented actions. It provided a $30 billion line of credit to facilitate the sale and is employing Depression-era provisions that for the first time are providing direct Fed loans to investment banks. Most analysts said the Fed was justified and that its efforts highlighted the severity of the dangers facing the financial system.

The turmoil produced wild swings on Wall Street this week with the Dow Jones industrial average surging on Tuesday after the Fed aggressively cut a key interest rate only to plunge on Wednesday on renewed worries about the economy and then to stage a 262-point gain on Thursday. Markets were closed Friday.

More turbulence is expected in coming weeks because there remains a great deal of uncertainty about how many more victims the credit crisis will claim.

The problems began last year with rising defaults on mortgages as a housing slump intensified, bu

dnatree · Guest

This is to inform You about the synch that occured EXACTLY one year before the date of the meltdown in this thread. And that I spoke to Diane Buxton from frontline today about this post.

Were we the first to recognise the meltdown,,,,, before the meltdown????????

September 2008
Inside the meltdown
coming to PBS

http://www.pbs.org/wgbh/pages/frontline/meltdown/

FRONTLINE INVESTIGATES HOW THE ECONOMY WENT SO BAD SO FAST

FRONTLINE Presents
Inside the Meltdown
Tuesday, February 17, 2009, at 9 P.M. ET on PBS

www.pbs.org/frontline/meltdown

On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. “There was literally a pause in that room where the oxygen left,” says Sen. Christopher Dodd (D-Conn.).

FRONTLINE producer Michael Kirk goes behind closed doors in Washington and on Wall Street to investigate how the economy went so bad so fast and why emergency actions by Federal Reserve Chairman Ben Bernanke and Secretary of the Treasury Henry Paulson failed to prevent the worst economic crisis in a generation on Inside the Meltdown, airing Tuesday, Feb. 17, 2009, at 9 P.M. ET on PBS (check local listings).

As the housing bubble burst and trillions of dollars’ worth of toxic mortgages began to go bad in 2007, fear spread through the massive firms that form the heart of Wall Street. By the spring of 2008, burdened by billions of dollars of bad mortgages, the investment bank Bear Stearns was the subject of rumors that it would soon fail.

“Rumors are such that they can just plain put you out of business,” Bear Stearns’ former CEO Alan “Ace” Greenberg tells FRONTLINE.

The company’s stock had dropped from $171 to $57 a share, and it was hours from declaring bankruptcy. Ben Bernanke acted. “It was clear that this had to be contained. There was no doubt in his mind,” says Bernanke’s colleague economist Mark Gertler.

Bernanke, a former economics professor from Princeton, specialized in studying the Great Depression. “He more than anybody else appreciated what would happen if it got out of control,” Gertler explains.

To stabilize the markets, Bernanke engineered a shotgun marriage between Bear Sterns and the commercial bank JPMorgan, with a promise that the federal government would use $30 billion to cover Bear Stearns’ questionable assets tied to toxic mortgages. It was an unprecedented effort to stop the contagion of fear that seemed to be threatening the rest of Wall Street.

While publicly supportive of the deal, Secretary Paulson, a former Wall Street executive with Goldman Sachs, was uncomfortable with government interference in the markets. That summer, he issued a warning to his former colleagues not to expect future government bailouts, saying he was concerned about a legal concept known as moral hazard.

Within months, however, Paulson would witness the virtual collapse of the giant mortgage companies Fannie Mae and Freddie Mac and preside over their takeover by the federal government.

The episode sent shockwaves through the economy as confidence in Wall Street began to evaporate. Within days, in September 2008, another investment bank, Lehman Brothers, was on the brink of collapse. Once again, there were calls for Bernanke and Paulson to bail out the Wall Street giant. But Paulson was under intense political pressure from conservative Republicans in Washington to invoke moral hazard and let the company fail.

“You had a conservative secretary of the Treasury and conservative administration. There was right-wing criticism over Bear Stearns,” says Congressman Barney Frank (D-Mass.), chairman of the House Financial Services Committee.

Paulson pushed Lehman’s CEO Dick Fuld to find a buyer for his ailing company. But no company would buy Lehman unless the government offered a deal similar to the one Bear Stearns had received. Paulson refused, and Lehman Brothers declared bankruptcy.

FRONTLINE then chronicles the disaster that followed. Within 24 hours, the stock market crashed, and credit markets around the world froze. “We’re no longer talking about mortgages,” says economist Gertler. “We’re talking about car loans, loans to small businesses, commercial paper borrowing by large banks. This is like a disease spreading.”

“I think that the secretary of the Treasury could not fully comprehend what that linkage was and the extent to which this would materialize into problems,” says former Lehman board member Henry Kaufman.

Paulson was thunderstruck. “This is the utter nightmare of an economic policy-maker,” Nobel Prize-winning economist Paul Krugman tells FRONTLINE. “You may have just made the decision that destroyed the world. Absolutely terrifying moment.”

In response, Paulson and Bernanke would propose—and Congress would eventually pass—a $700 billion bailout plan. FRONTLINE goes inside the deliberations surrounding the passage of the legislation and examines its unsuccessful implementation.

“Many Americans still don’t understand what has happened to the economy,” FRONTLINE producer/director Michael Kirk says. “How did it all go so bad so quickly? Who is responsible? How effective has the response from Washington and Wall Street been? Those are the questions at the heart of Inside the Meltdown.”

Inside the Meltdown is a FRONTLINE co-production with Kirk Documentary Group, Ltd. The writer, producer and director is Michael Kirk. The producer and reporter is Jim Gilmore. FRONTLINE is produced by WGBH Boston and is broadcast nationwide on PBS. Funding for FRONTLINE is provided through the support of PBS viewers. Major funding for FRONTLINE is provided by The John D. and Catherine T. MacArthur Foundation. Additional funding is provided by the Park Foundation. FRONTLINE is closed-captioned for deaf and hard-of-hearing viewers and described for people who are blind or visually impaired by the Media Access Group at WGBH. FRONTLINE is a registered trademark of WGBH Educational Foundation. The executive producer of FRONTLINE is David Fanning.

pbs.org/pressroom
Promotional photography can be downloaded from the PBS pressroom.

Press contacts
Diane Buxton
(617) 300-5375
diane_buxton@wgbh.org

Alissa Rooney
(617) 300-5314
alissa_rooney@wgbh.org

Brock · Joined: 20 Sep 2006 Posts: 6315

I am speachless, dna. Your experiences are phenominal! (((dnatree)))
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