Posted on 10/06/2008 7:07:18 AM PDT by icwhatudo
DJIA just prior to House defeat of bailout: 10843
DJIA close the day after House defeat of bailout: 10850
DJIA just prior to Senate approval of bailout: 10831
DJIA close the day after Senate approval of bailout: 10482
DJIA just prior to House approval of bailout: 10679
DJIA close the day after House approval of bailout:??? 9999 and dropping
(Excerpt) Read more at finance.google.com ...
There you go again thinking. I am by no means a McCain supporter, I was one of the Freepers that tried to get him knocked out of the primaries and managed to do so in 2000. I was a Fred Thompson supporter in the primaries this time. IMHO, The only redeeming quality the campaign has now is Sarah. However, other than McCain, we don’t have much choice now do we? Not voting or writing in the nutcase Paul will give us Obummer as President and that is not an option.
Watching double-talking Fuld bafflegab the Congress——one concludes his every move as Lehman CEO was to outmaneuver and outsmart regulators to circum-navigate US laws.
The name of Fuld’s game was to get more and more money for himself and a few hand-picked insiders.
Fuld’s “victim” act is amazing——clearly thinks he smarter than anyone else——the original Big Dick.
Probably walked around the company with a see-through fly.
Me-First Fuld deceived investors and anybody else that got in his way. Put him in jail and throw away the key.
Are you watching the markets? holy crap :(
It's like watching a slow-motion train wreck right now. Wailing and gnashing of teeth to begin soon.
Buy low, sell high. Now’s our chance!
Hhmmm..Dow down 742- Nasdaq down 8 1/2% Gold up $ 36
If I had cash to invest- I’d probably wait a little longer.
Do you even have a clue as to the purpose of the 700B investment of the public?
The statement made by some that 401Ks were at risk without it, is true, but the 401Ks will have a long road to recovery and the first dollar of that investment will not be made for at least a couple weeks.
In time,(time means quarters or 3mo periods in market parlance) when they have reset fair values for mortgage backed securities, the economic future of the country and of the globe will begin to have some visibility, where today we are still in the dark. Without that visibility which we expect will be returned to the markets, the 401K has no chance of recovery!!!! None! NADA.....Zippydadoooda!
And here you are throwing rocks at the Fed and Congress for a mis perceived failure of a plan that has yet to be implemented, much less given so much as a day to work when months are required.
Do you have any idea how silly this looks? How stupid it appears to me and to anyone who has some idea of what this is and what the dangers are and what it will take to clear this stuff out of our financial systems?
My God! This is so pointless! So idiotic!
I'm logging off....going grocery shopping or something to take my mind off this insanity and self destructive behavior.
It's called capitulation and is necessary to form a bottom.
How much longer, that is the tough question.
Regarding the bailout:
I haven’t felt this bad since 9/11.
Agreed. (See? We DO agree on some ideas!) The sooner we hit bottom the sooner we can start over. It’s just amazing to watch it happen- and Nasdaq startled me.
I watched this on TV in 1987- without the coverage we have now it was so different- plenty of intensity but not as much drama.
My God! This is so pointless! So idiotic!
I'm logging off....going grocery shopping or something to take my mind off this insanity and self destructive behavior.
People are attacking the messengers here quite frequently lately.
Personally, I would wait for the credit markets to stabilize before wading back in. People were using the "C" (capitulation) word last week, and the week before.
I'd watch short-term repo and CP rates, as well as Libor. Also, watch CDS spreads which are now blowing out to record levels.
You should know that holding an unpopular opinion is grounds for putting a big target on your back, even when you are completely right.
There have been several of us here who have been shouting warnings about the economy and getting slandered for doing so, called liberals and doom and gloomers trying to talk down the economy to help the Democrats get elected. I got used to it a long time ago, but it is still very frustrating sounding an alarm that most refuse to hear.
I’m now of the opinion that people have to feel the pain before they change their minds, and even then they will shout “how come you never warned me??” Oh, but we did... I’ve only been sounding the alarm for 18 months or so but we have had people here sounding the alarm for years. 4 years or more! I was too busy to hear it myself, back then.
That said, please keep the good information coming. Those of us who are listening really appreciate it.
Somewhere between 770 and 960 on the S&P 500. Around there. I don’t know how that translates to the DJIA.
I think we are getting there. it depends on where we close. One more day or so may be needed. There are still to many buyers according to the numbers as I interpret them.
At least my remaining holding has apparently bottomed today....lol!
The carnage today has nothing to do with the bailout. It has everything to do with the global trading markets and a anticipated rate cut that did not happen this morning.
G-8 calling for a emergency session as of a few minutes ago. This may lead to a coordinated rate cut that our overworked Fed could not get done for this mornings open because of the French as usual.....(It was not for the lack of trying, as they have been a thorn in our side since March) Maybe now they will go along with it. If not, then tomorrow is another day.
I’ve never been shy about being in the minority. ;-)
But, I have been shocked by the tone that some people have taken here recently.
Jeez louise. I come here for fun and to converse with people of similar political conviction, and to learn from people who have expertise in areas where I have none.
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