Posted on 03/05/2009 6:36:02 AM PST by Liz
WHAT'S REALLY SCARING WALL ST...... fresh threats of higher taxes on the most productive......bank bailout mystery..........contradictory policy measures......vows to unclog the banking system of toxic mortgage debt, along with a mortgage "cram down" that would make that debt more toxic. Candidate Obama won over the street even as he was bashing the financiers who'd plunged the country into crisis b/c of bad bets on risky bonds. Sources say Jamie Dimon, JP Morgan, Lloyd Blankfein, Goldman Sachs, John Mack, Morgan Stanley and Dick Fuld, then of Lehman Bros were supporters, as were Larry Fink of money-management powerhouse BlackRock, and senior execs at Merrill Lynch (ML's then-CEO John Thain supported John McCain).........unofficial polling shows sentiment has shifted dramatically...... when Obama urged buy stock Tuesday, the market sank. Obama's most ardent financial-industry fans are deserting him.
(Excerpt) Read more at nypost.com ...
Who (or what) is JTP?
Joe The Plumber
oh ... duh! Thanks.
Oh no, I chaulk it up to stupidity, trust me, most I have met are not nearly as smart as they think they are. Their egos far exceed their abilities, far more often than not. Are there some incredibly smart folks up there? Sure, but most aren’t.
Last month Putin and some leaders from China warned Zer0 and the rats in control of America not to push socialism as hard as they were pushing it.
I know. How sad are these times, when Russia and China is telling America it’s too far to the left. Amazing.
Market Watch a few minutes ago:
March 5 2009 10:15 A.M. EST
Day-ago rally erased quickly.
The bulk of Wednesday’s rally is wiped clean at the open as doubts surface over China stimulus. Retail, autos, banks sharing spotlight.
THE question is, to what measure of severity will they harm this nation's economy before 2010 or 2012? I am anxiously trying to decide if I should put my house up for sale and stash the profit until sanity is allowed to again present itself in D.C.
Not surprising. Any bump up is a selling opportunity. The shrewdest traders are making money off these small, temporary fluctuations. People buy the news, and the next day, the smart ones sell off. That said, FCX and TCLP are holding on pretty well. What I wonder is who the hell are the suckers buying at the top of these fake rallies? I’m not buying a thing. My only debate is whether to sell these rallies or just leave it alone.
No one with an IQ over 50 has any confidence in the Kenyan-born marxist. The markets and economy are not going to recover with Chavez/Mugabe as president. Do not expect any rally or recovery with this clown as POTUS.
I would love to find seniors and baby boomers who voted for this collectivist and laugh in their faces telling them their retirement is ****ed. I feel awful for conservatives harmed by this guy.
Like Rats leaving a sinking ship.
Let’s pray that Obummer & Co. do not enter into international treaties of the “One World Order/Global Warming” persuasion.
Other socialist policies can be reversed, treaties cannot!
Obama is doing exactly what he said he would do.
He’s been a doctrinaire socialist all along.
This isn’t bait and switch like the Clintons.
The same geniuses on Wall St. who bet on somebody making 50 grand a year paying the mortgage on a half million dollar home thought Obama would be a good leader.
A couple of weeks ago, we had dinner in Marin with the host couple and two other couples. These are people, who worked with me and pretended to be conservative until they retired.
After the first glass of wine and micro brew were served, it became open game from them re bashing Republicans, Bush and Rush. Finally, my wife told them no more politics and Bush/Rush bashing or we were going home.
They like most other rats are really split personalities.
They were proudly pushing Zer0, condemning evil capitalistic greed (of course only rich Republicans are greedy), and then complaining, moaning and crying about losing over 50% of the value of their IRA’s and 401k’s.
The last bit shows their greed. These 3 couples are basically retired and yet their IRA’s and 401ks were heavily invested in stocks and mutual funds betting on the high returns with little if any diversifing re their investments.
One of the women picked on the fact that we weren’t whining and moaning and asked my wife, why.
My wife said that I anticipated this failure after Pelosi and Reid took over and made appropriate moves. Of course that brought out the anti Bush/Greedy Republican spews from them.
I told them, I wasn’t going to discuss it anymore. If they were interested in what I did re our investments to send me an email the next Monday.
The Marin couple never sent one. The other two did. I sent them back another email stating that I was not going to waste my time explaining what I had done and unless they sent me an email saying they were really concerned about Zer0, Nancy, Harry and Barney the prancing queen.
I got no replies back from them.
This Administration’s economic policies only make sense if it’s understood that the goal is to turn the economy into something in line with left-liberal fantasies.
I use basically your summary when Zer0’s backers start to complain or lie and say that they were miss led by him:
“Obama is doing exactly what he said he would do.
Hes been a doctrinaire socialist all along.
This isnt bait and switch like the Clintons.
“The same geniuses on Wall St. who bet on somebody making 50 grand a year paying the mortgage on a half million dollar home thought Obama would be a good leader.”
I don't that's right. He ran a campaign based on empty feel good rhetoric of "hope and change". The electorate read into it their own hopes and desires.
The only people who saw trough it were level headed conservatives like Rush.
NewsReader last night said that "Obama's talking up the economy has started to affect Wall Street. Dow was up by 150 (or so, I don't remember) points."
"Let's talk about the other 3000 points it's dropped by since his election!"....Wife is going to stop letting me watch the news, I argue with the TV too much.
"You have nothing to be scared of with Barack Obama in the White House".
-John McCain, 12 October 2008
Aren’t these the incredible brains who despised Sarah Palin? But she was right and they were wrong...
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