Remember the 08 Financial Crash? How bad did it get you?

[imp7]

I was only 15 turning 16 in late 2008. My mom had retired that spring after my dad had died so she was getting her pension and his too so I had no idea how bad it was.
I wanted to get a job after school but my mom wouldn't let me. I remember my friends were looking for jobs and complaining that adults were taking all the retail and fast food jobs.
I went to a private school and I can kinda remember about a dozen kids in my class leaving at the end of our first and second years to go to public schools instead.

 

[Ed MOTHERFUCKING G]

I graduated college in 06 and immediately started working in financial services. In MICHIGAN.


shyt was ugly. New graduates were applying for jobs like 30/40 a day across the entire country. I got a promotion and transfer to seattle in 09 and didnt think twice about it. I have so many stories about managers who were shockingly arrogant ("fukk those other dumbass banks, let em fail") to a customer having a panic attack in our office, to other institutions being arrogant as fukk until they got BOUGHT by bigger ones....to going to websides every day to see what banks and lenders folded (when New Century mortgage failed and BEAR STERNS FAILED ).

But now on some comic book shyt, there are "PRE CRISIS" and post crisis people in our industry. You were a ryder if you made it.

 

[UltimateSource]

Lost 400k

 

[Ed MOTHERFUCKING G]

Gas prices

Other than that it had no negative effect on my life whatsoever. Matter fact the lowering of interest rates made it easier for me to buy a house

When bush dropped that STIMULUS CHECK i spent like $100 on some shyt, but put the rest on a visa gift card and spent that shyt on gas all summer i let the government subsidize my gas expenses for the summer

 

[Ed MOTHERFUCKING G]

Lost 400k

Real estate, or value of investments?

 

[Ed MOTHERFUCKING G]

Regarding nepoleans "friends on wall street"

If you were comission driven associate at an investment or financial firm, and yeah, built a life based on 04-07 comissions, you were fukked and had to get a job RIGHT THE fukk NOW when the bubble popped. If it was selling suits, trust me, there are dudes at your local nordstrom and neiman who were selling securities at one time.

 

[☑︎#VoteDemocrat]

When bush dropped that STIMULUS CHECK i spent like $100 on some shyt, but put the rest on a visa gift card and spent that shyt on gas all summer i let the government subsidize my gas expenses for the summer

how much was your check?

 

[☑︎#VoteDemocrat]

Regarding nepoleans "friends on wall street"

If you were comission driven associate at an investment or financial firm, and yeah, built a life based on 04-07 comissions, you were fukked and had to get a job RIGHT THE fukk NOW when the bubble popped. If it was selling suits, trust me, there are dudes at your local nordstrom and neiman who were selling securities at one time.

Yep...this precisely describes them

They all bounced back though, but few of them stayed in NYC

 

[☑︎#VoteDemocrat]

4 god damn week furlough

how does this shyt even work

 

[☑︎#VoteDemocrat]

@re'up you gotta start that thread. tag me when you do.

 

[UltimateSource]

Real estate, or value of investments?

I don't wanna talk about it.

 

[JBoy]

I was in 9th/10th grade and remember hearing the rumblings of a crisis, my parents had their hours cut at their jobs but my mother made fairly solid money at her job so we were able to weather the storm fairly well the effect that most stood out was my county was booming with new houses and businesses popping up just about every week but sometime in about the middle of 08 it was like all that building stopped completely cuz folks just weren't buying

 

[How Sway?]

I was 19/20 then. It was a part of the reason I went to college. I was working retail back then and I wasn't really interested in the news or finance or the economy so I didn't understand what was going on besides that the big banks had caused the crash. I remember going from being full time to basically working 8 hours a week. My ribs were touching It's funny how everything ripples throughout the economy. Most people had probably lost their jobs, houses and obviously weren't spending money on luxuries anymore. I said fukk that...applied to college that spring and was 5 states away the next fall. In hindsight, I wish I had the foresight to think about investing. If you put like $5K into the market, you would be walking away with 10x that now. Some of these companies had stocks that dropped down to a few dollars. The next crash I'm ready

were around the same age(i was like 16/17 during that time) and it was hard af to find a retail job

we were competing with bachelor degree mfers for cashier jobs

that's still going on today too

 

[Ed MOTHERFUCKING G]

I don't wanna talk about it.

I won't pry, but if it was net asset value of investments, remind yourself.... you never really had $400k, just your cost basis...if it went below that though ...

 

[Ed MOTHERFUCKING G]

how much was your check?

I think i got the $600...not 100% sure though