Agree with last postersThere seems to be no end with the turmoil in the markets , down it goes, the US banks have triggered this mess and they are in the financial sector of the markets.lending out money @ subprime to get business or whatever , overextending themselves(greed, and cut throating the competition) Then they have people unable to pay loans . Banks go broke and Executives get a bonus before they declare bancruptcies . The U.S. government tries to bail some out , at tax payers expense. Then the whole market all over the world goes to hell, and panick selloffs in every sector from financial to mineral, tech, manufacturing..... Everything goes down!!! The shareholders suffer, pension plans etc. Can someone tell me why the people holding stocks in a financial institution in the US are not the only ones to feel the pinch with the markets? Also why were there huge sums of money paid to some of the top execs. of banks just before they went bankrupt(Lehman Bros.) My thoughts are CEOs and top execs are RIPPING OFF the small investors, it doesn't stop with any particular sector. They are along for a free ride with our investment money, I am one very PEED OFF investor , these guys that had millions for bonuses are set for life , while us investors deal with what they have lead us on with. Brings me to my final thoughts , even though the financial sector has hit the fan , we still need energy, and mining to sustain life(among other things ) so why is energy and minning tumbling with the G.D. Banks ??
All for now , I'm going to feed the Oysters some leftovers from the crud in the banking industry , I think Pearls will be worth their weight in gold soon!!