US Stocks Drop on Greenspan Comments, Subprime Jitters

Marketwatch ^ | Dec. 17, 2007 | Marketwatch

[SamuraiScot]

NEW YORK (MarketWatch) -- U.S. stocks traded at their lowest in more than two weeks Monday, pulling back as Moody's Investors Services warned it could lower bond-insurer credit ratings because of subprime losses and as a former Federal Reserve chairman warned of the possibility of a recession.

[Beagle8U]

“at least we know what Andrea keeps in her lockbox.”

Most likely the pool boy.

[BlabItGrabIt]

In the year since the dims regained control of Congress a vibrant housing market has gone into recession, crude oil has doubled in price yet without any major hurricanes, and rumors are that the stock market is tanking sending the world into a recession.

People are taking notice--which is rather shocking...but nice the dims are no longer America's saviors.

[fweingart]

Shut up, Greenschpahn!

You're just trolling for a top job in a Democrat or Rooty administration!

Go build tarpaper shacks with Jimmie Kahtah.

[Jeff Chandler]

In the year since the dims regained control of Congress a vibrant housing market has gone into recession, crude oil has doubled in price yet without any major hurricanes, and rumors are that the stock market is tanking sending the world into a recession.

The Republicans should use this in their campaigns. Turn it right back around on the Democrats.

[lone star annie]

Better still it is time for the glue factory. CNBC quotes this guy like he was some kind of god.

Give it a rest you old fart.

[LottieDah]

Someone should tell that old fart to STFU.

[Racer1]

Him and his buddies were probably short the market.

[ThisLittleLightofMine]

Die already Greenspan, how long can he possibly live?

[RightWhale]

Is this like paying more attention to Algore who lost his election than to Pres Bush who won his election?

[petercooper]

I like all the idiots on Kudlow’s show who’ve been so pissed the economy hasn’t tanked yet. But yet they keep calling for a recession quarter after quarter after quarter after quarter.....

[elpadre]

are his frequent outbursts intentional for the purpose of negatively influencing the market? is this game playing??

[MississippiMan]

What sub-prime jitters? The default rate on such loans is no worse today than five years ago. Especially when compared to prime loan default rates. This is all one self fulfilling prophecy.

Only because the mortgage holders continue to push back the adjustments that are due, which is of course nothing more than delaying the inevitable.

MM (in TX)

[Ann Archy]

Greenspan STARTED this mess with his RATE CUTS!!

[ex-snook]

"Greenspan STARTED this mess with his RATE CUTS!!"

Nice to read a fact instead of a lot of crap from people who claim they are influenced by what people SAY or the good news today, bad news tomorrow market manipulations.

[Mojohemi]

You can feel the democrats in this Greenspan moment up to the neck. The only problem is that each time he shoots his mouth off I lose a money!! Someone or something should tell him he is “Once Upon A Time”

[Ann Archy]

How is that NOW people “understand” what MUMBLES is saying, when NO ONE had ANY idea when he was Chairman?? hmmmm

[steve86]

Stop complaining..the sooner we have a big drop in the stock market the sooner we will be able to make money riding it up.

Just so you're comfortable with the fact the Dow charts show a first stop around 11,200, second around 9k and third around 7,200. If the latter is violated, 6k is a certainty.

[B4Ranch]

Do you have an opinion on when this may take place?