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What is going on with the economy? Banks filing bankruptcy today?
I do not have access to a television and heard from my best friend today that some major banks are filing bankruptcy. My best friend said she was watching CNN, CSPAN, and CSPAN2 all night long because everyone was panicking over the economic break.
I have been trying to find information about this online but am having little luck and am beginning to believe she misunderstood the entire ordeal about major banks filing bankruptcy and economic downfall.
So, I suppose what I'm asking is what in the United States happened all over the news on September 26, 2008, other than the normal presidential election talk, of course. She clearly said that it was splattered all over the news. I know the economy is dying, but I didn't encounter anyone else today panicking over banks going bankrupt or anything of the sort.
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Yeah, there have been a few banks going under because of bad business decisions. The truly major ones are fine, but anything thats local or regional... well theyre expecting 20-30 semi major banks to go before the end of the year.
No one knows which ones, though, because the federal watch list is not public information.
The economy isn't "Dying" but we are definitely headed towards recession. The Bush administration has probably set more than one record for economic irresponsibility. All these corporate profits and such come at a price.
People aren't panicking, but the simple fact is that our economy is circling the drain.
All we can do now is watch, and hope.
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The economy these days is just terrible...
Yes, I wouldn't be suprised if the banks were going into bankruptcy. I haven't been following it 100% but the last I heard my state is in debt. Honestly, Following it on the news is just too much of a depression for me to even bare. The Goverment got us all in this mess, He's to get us all out of it.
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