Is The Worst Really Over?

[RobertB]

Is The Worst Really Over?
Liz Moyer, 10.03.07, 5:30 PM ET

For some perspective on just how worried Wall Street must be going into the final quarter of the year, note that while banks scored record fees from private equity clients through the first nine months of this year, those revenues dropped precipitously since July. So no, the worst may not be over.

Wall Street reaped $12.5 billion in revenues from private equity clients from January through September, up 16% from the same period last year and the highest nine-month total on record, according to Dealogic.

Financial sponsors were responsible for 20% of the $62.9 billion in investment banking revenues generated globally for the period. What's more, revenues from these clients have more than tripled in the last five years.

Wall Street has been enjoying record profits, and record bonuses, for the last two years, and, until July, seemed destined for a three-peat. But after problems in the subprime mortgage market spilled over into the broader credit market, the air seems to have been let out of the boom.

http://www.forbes.com/home/wallstreet/2007/10/03/deals-mergers-investing-biz-wall-cx_lm_1003deals.html

[lilbitsyspider]

Is The Worst Really Over?
Liz Moyer, 10.03.07, 5:30 PM ET

For some perspective on just how worried Wall Street must be going into the final quarter of the year, note that while banks scored record fees from private equity clients through the first nine months of this year, those revenues dropped precipitously since July. So no, the worst may not be over.

Wall Street reaped $12.5 billion in revenues from private equity clients from January through September, up 16% from the same period last year and the highest nine-month total on record, according to Dealogic.

Financial sponsors were responsible for 20% of the $62.9 billion in investment banking revenues generated globally for the period. What's more, revenues from these clients have more than tripled in the last five years.

Wall Street has been enjoying record profits, and record bonuses, for the last two years, and, until July, seemed destined for a three-peat. But after problems in the subprime mortgage market spilled over into the broader credit market, the air seems to have been let out of the boom.

http://www.forbes.com/home/wallstreet/2007/10/03/deals-mergers-investing-biz-wall-cx_lm_1003deals.html


:idunno Money took a dive yesterday and analyist say October could be another July. That means I can loose more money, that I already don't need ot loose when I'm trying to save.:doh

[kenny1659]

Our national debt is over 4 trillion most of it is held by foreign countries. The dollar continues to fall in value because of our lack of exports. MHO is things can get much worse if more countries change their standard from the dollar to the euro.

[Cameron]

Now is the time to pay off those foreign debts with a cheaper dollar. Those countries holding our bonds will not want to cash them in with the dollar this low. Its all a strategy.

Can't you see the smoke and mirrors at work here? :mazy

[Beeferoni]

Our national debt is over 4 trillion
As of this morning, the national debt is more than $9.1 trillion.

[RobertB]

As of this morning, the national debt is more than $9.1 trillion.

Actually that is probably much too low. Other estimates run from 20 to 50 billion, and if state and local debt is factored into the debt mix, the number becomes incomprehensible.

[Beeferoni]

Actually that is probably much too low. Other estimates run from 20 to 50 billion, and if state and local debt is factored into the debt mix, the number becomes incomprehensible.

The difference is that state and local debt, floated in the form of bonds, typically goes to pay for infrastructure and improvements...in that way, it's not unlike a home mortgage, or college loans (incurring debt today in order to own a home, or get a degree, which will benefit you in the future).

Federal debt, however, is just borrowing to pay for current spending. We aren't "buying" anything like bridges or stadiums or schools...we're just spending money. In that way, the federal debt is more like credit card debt, where we're just out there buying clothes and food and appliances and stuff...and we're using our credit card to make up for a lack of cash.

[Bernardd]

Our national debt is over 4 trillion most of it is held by foreign countries.

Most of it is actually owed to Americans.

[ojibweindian]

The worst hasn't even started.

http://www.foxnews.com/story/0,2933,299297,00.html
http://www.foxnews.com/story/0,2933,299319,00.html

Jobless claims the highest in four months, and factory orders at a seven month low.

[Cameron]

Remember learning about fractions in math class?

National Debt $9,000,000,000,000
Nation's Net Worth $100,000,000,000,000
Percentage of Debt to Net Worth 9%