Stocks Set to Plunge After Senate Rejects $14 Billion Auto Bailout- AP [Guilt Trip Alert!]

Yahoo Finance/AP ^ | Dec 12, 2008

[TomGuy]

A dejected stock market headed for a plunge at the opening of trading Friday as the Senate's rejection of a $14 billion lifeline for the auto industry intensified investors' concerns about a deepening recession.

[TomGuy]

[Don't we feel guilty? One commentator this morning hinted that auto workers won't have a Christmas this year because the mean ole Republicans (never mind that some Dems also voted against this bailout) grinched Christmas.]

[edcoil]

The media is blaming the Republicans but the Unions refused to negotiate.

[swatbuznik]

You know, if they're going to use this logic, then no more liberal president elects!!

[abb]

The Drive-Bys will try and use this story to get the BlagoGate story off the front page.

[dbz77]

Gee, I wonder why the stock prices of the big three should rise just because there is no expectation of them making a profit.

[St. Louis Conservative]

If the stock market tanks today, look for the drive-bys to blame Republicans in the senate for deep-sixing the auto bailout. Mark my words.

[Travis McGee]

Junkies set to crash after fixes denied!

[Red Badger]

Stocks Set to Plunge? How do THEY know?...................THERE MIGHT BE A BIG BIG RALLY!!!!!!!!!!!!

[Arkansas Toothpick]

I’m telling you, as long as there is ONE Republican in Congress, the media will blame him for everything. There lies have no boundaries of logic.

[SueRae]

Not at all. And I may stick a toe back in to the markets today if they do tank. This was the right thing to do.

[MrB]

A little thing called the “Futures Market” shows a big downward trend, especially at opening. We’ll see.

[From The Deer Stand]

but the Unions refused to negotiate

If Ford, GM and Chrysler are to survive it will take some bending and cooperation from everyone involved, including unions. If the unions won't pitch in then why should the taxpayer and the consumer?

[misterrob]

CNBS is a joke. The only thing that matters on that show is how the market can go up. No concern for the reasons why conditions exist or the dangers inherent to the “solutions” being proposed.

Having an automaker go bankrupt does not mean that they are out of business. It means they reorganize, the contracts are reworked and the debt is dissolved. It isn't pleasant by any means and a lot of people will be hurt by it but it was inevitable.

[P-Marlowe]

Chapter 11 to the rescue!

[pburgh01]

Bush will cave and give them a short term fix out of the TARP money enough to get through January. Next some of our more useless Senators will break the fillibuster and they will get whatever they want. This was a total fan dance.

[wmfights]

What a bunch of nonsense. The mkt will probably not be that bad. If the little 3 are forced into chptr 11 they might actually come out of it as a competitive industry.

The supply chain plants are the ones that are in the toughest position. They have been unable to get insurance on supplies they've been selling to the little 3 and they get paid on a 45-60 day cycle so they have a big chunk sitting in receivables.

[uncbob]

If the market plunges after some sanity returns to the economic situation what does that tell you about the market and the fools that play it

[Red Badger]

What did the overnight markets in Japan and Asia do?..........

[austinaero]

Wouldn’t it be fun if stocks DIDN’t tank today? Soemtimes the experts are completely off.

[djf]

Lost their shorts.

And Europe is getting pounded.

http://money.cnn.com/data/world_markets/