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Feeling squeezed?

September 18, 2008

In the past year, consumers have been battered by the housing market downturn, surging food and fuel costs, a credit crunch, and a weakening job market.

A Lehman Brothers employee (L) receives a hug outside the office of Lehman Brothers in the Canary Wharf district of London, September 15, 2008.   REUTERS/Andrew Winning

On Monday, Wall Street had its worst day since markets reopened after the Sept. 11 attacks in 2001, as Lehman Brothers filed for bankruptcy

The U.S. Federal Reserve stepped in to rescue insurance giant American International Group from bankruptcy with an $85 billion loan on Tuesday, the latest in a series of bailouts and loans for the financial and housing sectors.

And instead of quelling concerns, the AIG rescue seemed to have ignited fears that more bad news is to come.

How have you been affected by this week’s upheaval on Wall Street? Were you a victim of the Lehman bankruptcy, or has your employer been forced to downsize? How has it affected your bottom line – savings, investments, 401k?

Join the discussion on how the crunch is affecting you.

Comments

What matters most is what effect this proliferation of printing Trillions of dollars will have on our children and their children.

The US is broke. Did they learn nothing from the Japanese Bank failures a decade ago?

Didn’t the US berate them for propping up their banks?
Yes, they did. Now we’re doing it. By the way, after the Japanese nationalized their 2 biggest banks the Nikkei took another 4 years to bottom out.

The rest of the world is celebrating because the U.S. taxpayer is bailing them out of their U.S. losses.

What a shame!!!

Posted by Ken | Report as abusive
 

scary!

Posted by BECCA | Report as abusive
 

I’m concerned about the “lack of detail” in the plans published so far. I do not know what happened in the case of RTC, but at what price did the new institution by the “bad loans” at and what where the sold at? Who’s equity is paying the bill for the bad loans, the originator of the loan, the party who securities it or the taxpayer? If it is the originator of the bad loan and the party who packaged and created the security, that seems appropriate to me, but the taxpayer . . . NOT!

Posted by Marc | Report as abusive
 

a trillion ain’t going to do it. theres 470 trillion of garbage paper out there. the $$ is trashed and will stay trashed.

Posted by basho | Report as abusive
 

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