Could Wall Street Woes Set Off A Global Crisis?

SHRED

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Wed Sep-17-08 09:03 PM
Original message

Could Wall Street Woes Set Off A Global Crisis?

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Do yourself a favor and listen to this.
Very enlightening.

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Fresh Air from WHYY, September 17, 2008 · The bankruptcy of financial services giant Lehman Brothers and the 500-point drop in the stock market on Sept. 15 have sent shockwaves through the financial community. Law professor Michael Greenberger explains how the recent turmoil on Wall Street could trigger a domino effect for economies around the world.

Greenberger is the director of the Center for Health and Homeland Security at the University of Maryland and the principal deputy associate attorney general at the Justice

http://www.npr.org/templates/story/story.php?storyId=94686428

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madrchsod

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Wed Sep-17-08 09:07 PM
Response to Original message

1. panic is an enemy of reason...

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Pale Blue Dot

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Wed Sep-17-08 09:10 PM
Response to Reply #1

3. NO. Lies are the enemy of reason.

I'm sick of this "Don't report the facts! You'll cause a panic!" meme being repeated here. It's total bullshit.

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ben_meyers

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Wed Sep-17-08 09:09 PM
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2. Of course it will

The crash of Oct. 19, 1987 (DOW down 22% in one day!) impacted the worlds economy for more than a decade in some cases, especially the Asian markets.

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Selatius

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Wed Sep-17-08 09:11 PM
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4. Panic selling is dangerous in that it can easily feed on itself provoking even more selling.

In such a situation, they are no longer trading with reason as the primary basis. Now, they're trading on absolute terror.

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spindrifter

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Wed Sep-17-08 09:37 PM
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5. George Soros was predicting this over a year ago. The

financial institutions are bloated and there will be a "correction"--reduction. We already are seeing less money in the stock market--less money to chase pyramid-scheme profiteering.

A sane president would have been planning ahead for this situation starting several years ago--regulating these so-called free-market profiteers. After all, when you consider the free market and who is making the decisions that influence it--it is not a bunch of rocket scientists qualified to do so.

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nadinbrzezinski

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Wed Sep-17-08 09:40 PM
Response to Original message

6. It already is

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nadinbrzezinski

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Wed Sep-17-08 09:40 PM
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7. It already is

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