Posted on 02/10/2009 9:35:08 AM PST by Smogger
U.S. stocks fell and the Dow Jones Industrial Average was down more than 200 points Tuesday as Treasury Secretary Tim Geithner began unveiling the latest bank-rescue plan.
According to early reports, Geithner will commit $1 trillion of Treasury capital to a Federal Reserve lending program and launch a "comprehensive housing program."
The DJIA, which was nearly flat on Monday as investors awaited action on both fronts, was last down 208 points, or 2.5%, to 8062. Bank of America Corp. (BAC), one of the institutions expected to be affected by the plan, was the weakest stock, off 9.4%.
(Excerpt) Read more at marketwatch.com ...
The market is tanking because they know that we have to borrow this money. In my opinion, the money has already been borrowed from China. How else could they pass the stimulus bill with no money. I also believe that Washington just played the roll and showed the people that they were voting on this scam. The deal was already done. Just a gut feeling here.
Down 308 now.
-348
Good. I hope it craters, I hope it goes lock limit down.
I don’t care how much I lose, I just want people to NOTICE that we have IDIOTS running the gov’t.
LQ
Geithner’s speech “basically puts a spotlight on the fact that the government has no idea how to fix the problem,” said Jeff Buetow, senior portfolio manager at Portfolio Management Consultants.....
“People bought on rumor and hope, and now they’re selling on reality.”
The problem is, (and I hope it tanks ,too) that most of the people that put the communist in office don’t have any stock in anything.We are going to see another Pol Pot type dictatorship I’m afraid. Those that are in power now care not one bit about the productive people in this country. They just want to rob them and rule over them. The central part of this country needs to secede if there is to be ANY place for decent, working folk to live. Let the people that wanted this crap bathe in it now.
Fraom Capitalism to Socialism....the CHANGE you can believe in!! Thanks stupid American kid voters.
Well, it was kind of more like crapitalism. (I just thought of that when I saw your post.)
Or to quote Savage, from the penthouse to the outhouse in three generations.
In case anybody’s interested in the original topic of this thread —
Dow just went below 7900....
The ‘closing last half-hour’ selloff might be brutal.....
It continues on news that the “stimulus package” passed the Senate. The market knows.
You may want to update the title.
Dow is off 361 pts
Done, but don’t get use to this ;)
-374 Now.
Way to go Turbo Tim. Thanks for all of your great wisdom and experience. Deceit is not a good thing when one is SOT.
>>But investors appeared to reject the government’s latest plan.<<
I love that line ... like we can actually do something to stop it.
-394 now.
-408 and dropping.....
That's bull. The market didn't really start crashing until he was elected. After the inauguration it really wen south. He campaigned on fixing this and he is a miserable failure.
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