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Fannie, Freddie Rattle Investors; Crude Oil Surges to New Record (Stocks below 11,000)
Wall Street Journal ^ | 7.11.08 | By Peter A. McKay

Posted on 07/11/2008 8:58:49 AM PDT by meandog

The Dow Jones Industrial Average recently traded down more than 240 points, around 10988. The blue-chip indicator hasn't closed beneath the 11000 level since July of 2006. It hit a record high of 14164.53 on Oct. 9, 2007.

The S&P 500 was down 1.7% to 1232.02. All of its sectors traded lower, led by a 5% slide in its financial sector. The energy-sensitive consumer-discretionary category was close behind, down 3.5%. The Dow and the ...

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: energyprices; fanniemae; freddiemac; imisswilliegreen; thumpinstocks
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We're takin a thumpin"!
1 posted on 07/11/2008 8:58:49 AM PDT by meandog
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To: meandog

Perhaps we should ask the former executives to return their bonuses...


2 posted on 07/11/2008 9:02:21 AM PDT by Eric in the Ozarks
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To: meandog

Oh, well. It’s the end of the world. Run for your lives.

Or quit being chickens, and take care of Iran. Oil would go back down a few months after Iran is done.


3 posted on 07/11/2008 9:04:37 AM PDT by familyop (cbt. engr. (cbt), NG, '89-'96, Duncan Hunter or no-vote)
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To: meandog

This Fannie, Freddie thing has been going on forever. The stocks dropped 50% today, but likely nobody owned any of it at this late date. Nobody but widows and orphans.


4 posted on 07/11/2008 9:05:33 AM PDT by RightWhale (I will veto each and every beer)
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To: familyop
Oil would go back down a few months after Iran is done.

Yes, it would back down from $300 when everybody has starved to death. Well, not everybody. A billion might still be hanging around whining.

5 posted on 07/11/2008 9:07:32 AM PDT by RightWhale (I will veto each and every beer)
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To: meandog

It sure is a good time to have no assets.


6 posted on 07/11/2008 9:09:32 AM PDT by montag813
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To: meandog

Wow! We need a tax increase and fast!


7 posted on 07/11/2008 9:09:39 AM PDT by JZelle
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To: meandog

The market is,but I’m making a killing on Freddie.Bought it at this mornings low.Just had a “hunch”.


8 posted on 07/11/2008 9:10:07 AM PDT by quack
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To: Eric in the Ozarks

Even worse is the gold shower they got to encourage them to leave.


9 posted on 07/11/2008 9:10:22 AM PDT by DManA
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To: meandog
At least the news can't get much worse...


10 posted on 07/11/2008 9:10:27 AM PDT by GalaxieFiveHundred
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To: quack

Better lock in that profit pretty quick quack.


11 posted on 07/11/2008 9:11:30 AM PDT by DManA
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To: meandog

Yup. Call Pillosi the pill head and tell her to drill.Think we safely blame Congress and the Press for this one.


12 posted on 07/11/2008 9:12:50 AM PDT by dalebert
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To: DManA

My “play” money is in it,so it doesn’t matter if I lose.Pretty interesting watching the money come in,then go out,then come in.....


13 posted on 07/11/2008 9:13:38 AM PDT by quack
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To: familyop
Oil would go back down a few months after Iran is done.

Oil would go down within five minutes after Bush stood up in a press conference and announced that we were going to start drilling on Monday.

14 posted on 07/11/2008 9:14:13 AM PDT by ottbmare
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To: ottbmare
Oil would go down within five minutes after Bush stood up in a press conference and announced that we were going to start drilling on Monday.

Can't he use an Executive Order, citing national security?

15 posted on 07/11/2008 9:18:46 AM PDT by montag813
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To: DManA
2006 Board to CEO - Great job! Here's $50 million Please stay.

2007 Board to CEO - You've steered us onto the rocks. Here's $100 million. Please go.

16 posted on 07/11/2008 9:22:27 AM PDT by DManA
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To: meandog

My IRA has fallen and it can’t get up.....


17 posted on 07/11/2008 9:25:38 AM PDT by Realism (Some believe that the facts-of-life are open to debate.....)
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To: DManA

I always knew that a fool and his money are soon parted; what I have yet to figure out is how they get together in the first place....


18 posted on 07/11/2008 9:26:25 AM PDT by thulldud (Congress does not want answers. They want scapegoats. (andy58-in-nh))
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To: meandog

According to Richard Russell of Dow Theory Letters, the transportation average has not yet confirmed the Dow’s bear signal. It would have to violate 4140.29. Now at 4729.47.


19 posted on 07/11/2008 9:26:30 AM PDT by vietvet67
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To: meandog

Yikes


20 posted on 07/11/2008 9:27:18 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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