There has been a real attempt this week to destroy some of the financial bastions of the economy. There was starting to be talk of CD's being less than they were bought for, FDIC not able to cover bank accounts, etc. And the shorts were making it seem like these stocks were going down on valuation, instead of just plain abusing short trading. Runs on banks could have been one of the next steps if the Gov't was seen to be standing idly by.
We're not out of the woods yet, but we're starting to address the meat and potatoes of the problems now. Thank God.
Do you think that Up Tick rule being eliminated in 2007 makes any difference?
I never have thought much of short selling. If you want to sell a stock sell it, but shorting has always seemed a stretch to me.
The problem is this week there is/was a concerted effort to drop it down into the 8000’s!
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Even if TODAY we dropped back down to 7,800 we would still be 6000 points HIGHER than we were in 1988. (In 1988 the DOW finally broke the 2000 barrier)
We’d be 4000 points higher than we were in 1994.
We’d be right were we were in 2003.
Losing 5 years is bad but not the end of the world IMO.
maybe
The real problem is that tens of millions of people have made lots of money gambling in this (stock market) Casino, they lost it, took out loans with loan sharks, can’t pay up and ....and....
AND WANT DECENT FOLK TO BAIL THEM OUT OF THE BEATING THEY’RE GONNA GET!
tough love
Now them Russian boys THEY got problems. But you know, I bet the Georgians will be willing to loan ‘em something.
Semper Fi