any new rumors of furloughs at any of the fracs?

[Nolife]

What "red" are you referring to? Flex is making profit right now.

That is the point my friend. Word from the man in charge was that lay offs were going to be a last ditch effort and would only be implemented after bleeding red for a while; then some one in the room farted and 25 pilots went home. What gives?

 

[EatSleepFly]

disregard

 

[blueridge71]

You don't read the financial press, do you? Gutting of the Glass-Steagall act allowed banks to become investment banks (and vice-versa), who then leveraged themselves upwards of 40:1. That is, they borrowed $40 for speculative investments for every dollar they had on deposit.

JP Morgan, for example have over $97 TRILLION in derivatives exposure. Citibank more than $40 TRILLION.

But yeah, you're right, it's all the fault of the subprime borrower.

It wasn't the fact that they were investing; the problem was that they were leveraged 40:1.

Europe has managed very well thank you without a Glass - Steagall of their own.

 

[DAS at 10/250]

Blueridge71;

Love the avatar!!!!!!!!!