US financial turmoil turns worsen...

[links]

Lehman Brothers file chapter 11 in the states and made the largest ever bankrupt case in US history....with the estimated debt of US$600billion

Citi bank , one of the biggest debtor for Lehman Brothers were having US$100B worth of debt affected in the Lehman's bankruptcy.

Merril Lynch, the largest brokerage house in US were also in deep trouble and bought over by Bank of America lastnite.


in another hand, AIG, the parent company for AIA insurance are in the edge of bankruptcy as well, if they cant raised US$75billion by US time Wednesday to keep their credit rating, they will also go into bankruptcy.

Prepare for one of the largest financial downturn in the century....:wavey:

 

[SentraVIP]

Err... It's not financial downturn anymore. It's financial meltdown

 

[xand]

someone out there striking the US economics? or the president election coz all these?

 

[JINEIL2EN]

good good good.... hahahaha.... Destruction before Construction.... Natural Habit wat.....


---Government announces $85 billion loan to save AIG (AP)
AP - In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.

 

[satria_95]

We better quickly learn how to cook some really delicious food. Food business will still get us good income. haha Time for vegetarian bak kut teh hehehe

 

[Stormvolution 9]

Anybody told Abu Dhabi abt this?! Time for them to do something in US market?! Mmm...

I think the real meltdown is on its way... Luckily the cruel oil price came down b4 this, else i think US govt will hv even bigger problem to solve!!!

 

[JINEIL2EN]

Mys gov can invest in US now.... can spend their 'dark' money over there...

 

[satria_95]

jin,
dark money? hehehe We go to US and sell dim sum. hehehe

 

[links]

the middle east and possibly malaysian investments (sovereign funds) may suffer losses in the downfall of commodities oil market. the oil price goes down from $130 to $90. many oil production countries are betting money on the oil price up in the the future options. now they will suffer losses......

the bankers in wallstreet are sucking big time money from all over the world now....

the AIG bail out has something to do with chinese involvement. they hold quite some shares and insured for some chinese insurance/bank so the chinese are pressure on US to bail AIG. Also, today Chinese government announced that they have bought $200billion worth of bonds from US...indirectly pumping money into US to save the AIG..

 

[xand]

will Man Utd sinking with AIG too? bad form lately laaa...

 

[JINEIL2EN]

jin,
dark money? hehehe We go to US and sell dim sum. hehehe

sell dim sum..???
no lah...
i tot sell some robes to them... they might need it....hehe...

 

[JINEIL2EN]

will Man Utd sinking with AIG too? bad form lately laaa...

AIG confirm that will pull out of sponsorship worth 8800 million pound.... MU will become next LU...Leeds United.... hahahahahahaa......

 

[links]

next on the list we have Moron Stanley, the silver donut from Aussie, almost all investment banks are in deep shit now.

for commerical/retail bank we have wamu,wacho, citi (their balance sheet has stressed to max now)

Other than the subprime, many Alternate A mortage in US will start to end their honey moon by end of this year for paying low interest installments for 3 years. More default on credit swaps will be expected. Current default rate on credit deriatives are about 3% up from 1% last year and it may rise to 10% by early next year.

the FED is running out of money and need to issue more bonds for liquidtity, means more US dollars will be needed to print. market lost confidence in the USD and flocking to traditional currency such as gold, silver...etc

Former Chief Excutive of AIG is in HK now(my friend just met him this morning but he refused to tell more about their meeting), some deal should be going on....i think someone in HK might buy over AIA in Asia.

cash is king now, many banks will sell their assets in discounted rate to raise capital.

 

[MIL_LEINAD]

wahh.. wat a big issue ar?

 

[driftkingII]

jin,
dark money? hehehe We go to US and sell dim sum. hehehe

bro, when u sell the dim sum..

go n help sell Lingham's Chili sauce !!! i heard it is a big hit in overseas than here...

NO NOT VK LINGAM SAUCE

 

[JINEIL2EN]

too bad.... all cash in new car now.... damn......

 

[jordanti10]

Watch Zeitgeist

Quite controvesial. It might shed some light

 

[satria_95]

jin,
sell robes for what? sell them firecrackers to celebrate the shitty financial crap. haha

driftkingii,
lingam chilli sauce? Is there really such a thing? If yes, I'm guessing it's those red color spit that comes out of lingham's sauce, that's packed in a bottle and sold as chilli sauce. Yucks. Gross. hahaha

 

[JINEIL2EN]

sell robes for them to hanging-up themselves.. heheheehe...

 

[Saga Continue]

this meltdown wont effect us if PR takeover...

Anwar said if he become PM he already been guaranteed a FDI woth 1 trillion USD...

go anwar...