Posted on 09/14/2008 8:28:31 PM PDT by Flavius
U.S. Treasury Secretary Henry Paulson said on Sunday he supported this weekend's actions by market participants, the Federal Reserve and the Securities and Exchange Commission to strengthen and enhance financial market stability.
(Excerpt) Read more at newsdaily.com ...
WHAT??? Paulson? Pat Paulsen? Is he running for President again? 0bama’s really doomed now! This will split the looney vote for sure.
I can tell that traders are already impressed, Dow futures are down 337 points. /s
yes God bless the bagholders
Where are you getting your futures numbers from? My usual source has been stuck on -252 for over an hour. It’s obviously not updating.
what kind of opening bell number does that foreshadow?
http://www.bloomberg.com/markets/stocks/futures.html
Well, if the market was to open right now...it would be down about that much (330 points or so). But Dow futures change right up until the minute the market opens.
Thanks! I have been using the Wall Street Journal’s, but it is doing some strange things tonight.
What a great week for the banks with the Fed/Treasury’s help!
They eliminated Fannie Mae and Freddie Mac as competitors and know are purchasing ML at a discout (BofA). Watch one of the other banks scarf up Lehman at a discount as well.
Crony capitalism at its worst. How many competitors will they let banks get rid off to “for the public good.”
Some of us have been ATTEMPTING to curtail this MADNESS on the part of the government for many years.
Sadly, over the years, the madness metastasized into the private sector with derivatives of derivatives and too many totally ephemeral and whacked out so-called “investment” and “credit” instruments to list them all. It was SO far out of control that a number of the top economic minds in the country admitted that even THEY didn’t understand them.
What the DUMMIES in the private sector failed to realize is that the GOVERNMENT has the printing press to bail THEM out. If they tried it, they’d be arrested for counterfeiting. The feds HATE competition!
Unfortunately, not many others felt any of this government and private sector insanity was – or would become – a serious problem. I can’t count how many LAUGHED at us during that period. Many of them right here at Free Republic (and you know who you are). Most of them have STOPPED LAUGHING!
And so the sheep will again be sheared.
Trust me, it is NOW A SERIOUS PROBLEM, one even the feds may not be able to print their way out of this time.
It is ALWAYS what happens when man – or SOME MEN – play god with the immutable laws of nature and economics. History teaches that they do so at great peril – and they ALWAYS fail. Insanity is doing the same things over and over while expecting a different result.
What saddens me most is that – on the government side, at least — Newt either squandered or let slip HIS chance to get a grip on it. And, no, I’m NOT picking on Newt. WE’RE ALL GUILTY!!
In this 2 minute clip, he seems to be trying to tell us that he took a shot at it:
http://www.youtube.com/watch?v=lIo8FJJMps8
Probably as many as they want - as long as the Fed gets to extend its powers, which it has been doing at a rapid pace since late last year.
its certainly a fine mess
but id like to know which guys made the loot
its a zero sum game right
so who got out on top of the ponzi scheme
it obviously wasn’t the Bear Sterns, and Lehman guys ...
also, more importantly what is the next scam coming down the line, id like to get ahead of that next train of printed gravy
Ah, c’mon you guys, this is great!
Sing along with me, “We’re in the money, we’re in the money...”
You over there, crank up that printing press.
Me, I’m going to go out and max out a bunch of credit cards and enjoy the party while it lasts! If it’s good enough for Uncle Sam, it’s good enough for me! Yee hawwwww!
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