Ten Spider Blog
Topic Thread:      Ten Spider Enterprises, LLC Home   »   Ten Spider Blog

Recommended:   Spider Silk Link Exchange Partners,    Website Link Exchange Policy,    Feature of the Week Archive


Ten Spider Blog


Mon Sep 29, 2008

Does Congress Know a Crisis When It Sees One?

EDITORIAL:

Today's vote in the U.S. House of Representatives against the "economic bailout package" shows a flagrant disregard by our elected representatives toward the American public and a total detachment from reality with regard to the fragility of the current world financial environment. The partisan remarks by Congresswoman Nancy Pelosi just prior to the vote were highly inflammatory and reprehensible given the situation, not designed to evoke a positive vote but rather to sabotage it. Likewise, those Republicans who voted against the bill, either due to anger at Pelosi's words or on ideological grounds, apparently consider themselves to be politicians first and Americans second.

The immediate result of this disappointing failure to lead was a 777-point loss in the Dow Jones Industrial Average, the largest point drop in history. This is a scratch on the surface of the potential reaction that is yet to come. Overseas markets are certain to plunge prior to Wall Street's reopening tomorrow morning. A market crash is not out of the question. Such an event will ripple violently throughout world economies with devastating impact.

The "bailout bill" was certainly far from perfect. Its purpose was not to provide a final solution to the problem, but to instill confidence to Wall Streeters and the American public alike that our leaders are willing to act and act decisively to bring stability to financial markets.

For those who do not understand what is happening or why we should be concerned, I offer a greatly simplified explanation. This debacle began as a crisis of confidence incurred by the sudden realization (by professional financiers who should have known) that a considerable quantity of "subprime" home loans had been issued without proper verification of ability to repay. At first considered to be solely a U.S. problem, the situation escalated when several European financial institutions announced that they were carrying large numbers of these risky debt instruments.

With mortgage lenders suddenly unable to resell their existing mortgages, mortgage lending dried up, buyers abandoned the housing market and home prices began to plummet. The situation morphed into a liquidity squeeze as financial institutions stopped lending because assets on borrowers' books could not be valued. With confidence steadily eroding, the financial markets have seized; banks are unwilling to lend money -- period. As financial reserves at less capitalized institutions fall to dangerously low levels, these institutions are becoming insolvent (unable to do business due to lack of capital), resulting in failures and bankruptcies. The crisis has now spread well beyond the mortgage market to involve all credit markets and businesses with good as well as bad balance sheets (because no one is certain who owns what).

Ironically, Congress could have stabilized this situation by abandoning partisan politics and demonstrating a united front. Apparently, our lawmakers are more interested in getting re-elected than in serving the better interests of the American public. The continual bickering by politicians, when they should be standing together to address the problems at hand, could ultimately plunge our Nation and the World into a new Great Depression. For those of you who take what I say to heart, do everything you can as fast as you can to get yourself into a better financial position and preserve capital. For those of you who do not believe, watch -- and worry.

Technorati Tags: , ,


Posted by: The Spidermaster on Sep 29, 08 | 10:30 pm | Profile

[0] comments (3474 views) |  [0] Trackbacks   [0] Pingbacks

Tue Mar 21, 2006

Ten Spider Investment Center Upgrade Complete

I am pleased to announce the completion of our upgrade to the Ten Spider Investment Center. All 44 pages within the Investment Center have now been upgraded to SIMD format. (For the latest discussion of SIMD, please see my 18 Feb 06 post.) The upgrade will greatly streamline the task of adding hyperlinks and will simplify inclusion of periodic updates, enhancements and investment links. MORE ....


Posted by: The Spidermaster on Mar 21, 06 | 3:00 am | Profile

[0] comments (3395 views) |  [0] Trackbacks   [0] Pingbacks

Fri Mar 04, 2005

Two More Texas Real Estate Foreclosure Listings Pages

If you are a real estate investor in the Dallas/Ft. Worth area, we have added two additional Texas real estate foreclosure listings pages for Denton and Ellis Counties in addition to our Dallas and Tarrant County listings. See our Foreclosure Properties, Denton County, TX and Foreclosure Properties, Ellis County, TX pages. Please be patient while these pages load; the database access makes them a bit slower than our other pages.

Real estate foreclosures are used by many as investment vehicles; they can also be an excellent way to purchase a home at a reasonable price. This form of investing should not be attempted without adequate preparation. Visit our Real Estate Foreclosures page if you would like more information on this type of real estate investing.


Posted by: The Spidermaster on Mar 04, 05 | 4:25 pm | Profile

[0] comments (2236 views) |  [0] Trackbacks   [0] Pingbacks

Mon Feb 21, 2005

New Texas Real Estate Foreclosure Listings

If you are a real estate investor in the Dallas/Ft. Worth area, we have added new Texas real estate foreclosure listings for Dallas and Tarrant Counties. See our Foreclosure Properties, Dallas County, TX and Foreclosure Properties, Tarrant County, TX pages. Please be patient while these pages load; the database access makes them a bit slower than our other pages.

Real estate foreclosures are used by many as investment vehicles; they can also be an excellent way to purchase a home at a reasonable price. This form of investing should not be attempted without adequate preparation. Visit our Real Estate Foreclosures page if you would like more information on this type of real estate investing.


Posted by: The Spidermaster on Feb 21, 05 | 3:18 am | Profile

[0] comments (2757 views) |  [0] Trackbacks   [0] Pingbacks


Receive updates to this and other pages on Twitter!


Ten Spider™ and tenspider™ are trademarks of Ten Spider Enterprises, LLC, and are protected by United States and international trademark laws.
Valid XHTML 1.0!