Posted on 10/05/2008 5:56:46 PM PDT by icwhatudo
Wall Street is reacting negatively to the passage of the banking bailout plan. Stock index futures, which give an indication of how trading will proceed when the market opens Monday, were down over 150 points at 8:30pm EST Sunday evening. Japan's Nikkei stock average has fallen 275 points (2.52%) on Monday (local time) despite President Bush's signing of the financial bailout bill.
(Excerpt) Read more at money.cnn.com ...
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:???
Currently: 10213
(rough numbers based on times of votes)
$700B is not enough. Wall Street wants more and will thow a tantrum until its gets at least 3X that.
From here on out, our Nation’s budget will be held hostage to the DJIA.
Nice work on the bailout, guys. Hey, can you come trash my home and my car while you’re at it?
I hope the market improves, but I could understand it falling further after the “Bail out” passed.
Why is it called a bailout or a “rescue” plan?
I call it a failout.
Such a joke.
“Nice work on the bailout, guys. Hey, can you come trash my home and my car while you’re at it?”
You don’t have to ask. They’ll just send you the bill.
I call it a sellout since that appears to be what many in our government did.
yes, the markets are now on to estimating how deep the slowdown/recession will be, looking for signs to hope, or indications of continuing distress.
Shhhh......doesn’t fit the storyline. The Pols in DC did SOMETHING so obviously it’ll all be OK. Right? Right?
I keep calling it a “buyout.” (husband recently took one, so the word’s in my head) It didn’t bail out anything, it was one massive bribe.
Gonna be a wild ride.
Will someone pree the “up” button please!
Wall Street wants more free money, f*** them.
pree=press
No matter what name...it stinks big time.
I trade in aluminum. The bigger brokerage house are starting to dump some commodities...Fast. Friday, a couple brokerage houses called to let us know.
I am the last one in, guess who is the first one out? What a joke the failout, whatever... this shall put me on the unemployement line...
Loaning the money, I can understand, free out with the ramifications? Oh, hell no.
I can’t help but feel that this isn’t anywhere near over and more ransom will be demanded or “Main street” will burn.
If it was Wall Street asking for the money then why was there a train load of "sugar" piggy-backed on that bill? It was slight-of-hand. The real culprits were Fannie/Freddie and we barely glanced in that direction.
There are 1000s of not-so-rich people who have their investments connected to Wall Street, but they weren't helped by that guano bill.
CNN will blame “doubts about the President signing the bill” for the downturn. After someone whispers in their ear that he already signed it...it will be “all OJ all day”.
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