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.
Shhhh......doesn’t fit the storyline. The Pols in DC did SOMETHING so obviously it’ll all be OK. Right? Right?
Gonna be a wild ride.
Will someone pree the “up” button please!
Wall Street wants more free money, f*** them.
The stock market is dropping in fear of an Obama presidency.
Bailouts will continue to be a part of our economic life, along with inflation (the great hidden tax), until we extricate ourselves from a financial system based upon a fiat currency and a fractional-reserve lending system.
To me, it is fruitless to debate any other issue. I’ve heard this said elsewhere, “You can’t put lipstick on a pig.” Until the core system is changed you can legislate and pray until you are blue in the face, but you will always come back to economic suffering.
I think the markets are smart enough to figure out that if the ‘RATS wrote the Bailout Bill of 2008, it’s not going to be good for anybody but the ‘RATS.
Do you guys really think the Dow would be higher right now if the House had again rejected the bailout bill on Friday? Didn’t you notice last Monday’s stock market crash upon its rejection? You can legitimately argue that the government’s role is not to support the stock market, but let’s at least concede short-term cause and effect between congressional action and the stock market returns.
“Thank you sir may a I please have another!”
Oh, a couple of trillion more dollars of fiat money ought ot solve the situation. Jeeze, Louise - let the market correct, folks.
The DOW isn’t what people need to be watching here.
Opening up of credit is the key thing. Last week GE had to pay Buffet an interest rate of 10% plus future valuable stock warrants to borrow money. If GE’s paying 10%+, think of what your local small business person might have to pay this week.
I didn’t agree that this particular bailout plan was the way to go, but somehow massive intervention was/is needed to open up the credit markets.
You didnt think the bailout would actually work did you? I doubt the Treasury has even come up with a plan to buy those worthless houses yet, let alone transferred any money. I think they have 45 days to start....
I think we’re going to see pretty flat trading until the market digests what’s happening. 150 down in futures isn’t terrible, and that can - and will - turn on a dime, either tonight or after the market opens.