An appropriate lesson from history:
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 ...
Sell Sell SELL!!
LOL!
Sept 19 2008 Dow Jones - 11388
Oct 27 2008 Dow Jones - 8175
THAT was the BUSH CRASH.
No Crawdaddying allowed.
Perhaps he was referring to this:
Nov 4 2008 DJIA: 9625
Nov 20 2008 DJIA: 7552
That’s -2073, which is more than the -1763 from your Sept 19 high of 11388 to Nov 4. Stock markets are one area I do agree that perception is reality.
>.your Sept 19 high of 11388 to Nov 4
Not my Sept high. Bush’s.
11388 - 8175 = 3213.
So there. We could go round and round on this.....
Make excuses for Bushie all you want, but it’s his crash, his bankers bailout welfare, which started the whole bailout stimulus craze.
In fact, today, Geithner, a former member of Bush’s administration, told us what Obama is going to do with the Bankers Boondoggle money Bush authorized for spending.
Sweet, ain’t it, bipartisanship.
However, there was a recovery of + 1450 from the low point you arbitrarily picked all the way up until Obama was elected. After Obama was elected, his words have had more affect on investors than Bush's, understandably.
The 700 billion Bush TARP was for a completely different purpose than the Obama/Pelosi/Reid stimulus, whether you agree with it or not. TARP was to prevent bank failures. This “porkulus” creation is supposedly going to “jump start” the economy.
While I am dead set against porkulus, TARP is something I don't know what to think. Bank failures are what took an 11% market crash in 1929 into a depression.
-381.99 at close.
>>This “porkulus” creation is supposedly going to “jump start” the economy.
Yes, but what Geithner is touting today is the remaining 350 Billion unspent out of the Bush TARP bill, not Porkulus.
Ah. I was at work and did not know what he was talking about. Thought it had to do with today’s vote on porkulus.
If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it.
Who did this, Why, Was it tied to the election, Did Democrats know about this & were involved? Like Schumer?
This has to be resolved. Way too much money is gone.
If this is not done, Democrats will find a way to make this a brand of us , like they have managed to do with the KKK (Democrat terrorist organization from the Civil War)
US Stocks Tumble In Biggest Drop Since Dec After Bank Plan
MarketWatch | Feb. 10, 2009 | Rob Curran
Posted on 02/10/2009 1:32:34 PM PST by La Enchiladita
http://www.freerepublic.com/focus/f-news/2182629/posts
Wall Street: Thumbs Down on Nailout (Thanks, Timmy!)
CNNMoney.com | February 10, 2009: 4:16 PM ET | Alexandra Twin
Posted on 02/10/2009 1:30:46 PM PST by kellynla
http://www.freerepublic.com/focus/f-news/2182626/posts
I don't recall any MSM outlets blaming a market decline on something that Obamanistas did prior to today. It seems as if before this, a sharply negative day would be attributed something criminal within the private sector or something bad that the Bushies did.
An interesting note is that the engineering firms who specialize in infrastructure also fell. Sorta tells you something about this bill, eh?
Yeah, but then again, the parties had swapped places...big government liberals like Lincoln were Republican.
Yeah, I wish that I knew what they know...I've traded a few of them and lost on each...Jacobs, Fluor, Shaw, Granite, etc.
Big Government Liberals ARE Democrats or members of the Main stream Press
There was not, nor has there ever been, a swap of places.
You are born a Republican,
Racism -makes you a democrat
Dependency makes you a democrat
depending on something for nothing-makes you a democrat
Using welfare for a hammock not a springboard makes you a democrat
1) Many FReepers play ostrich, but in the real world, there’s a HUGH drop in demand (yes, I’m SERIES!) Demand at all levels. Clients that are hurting postpone construction, usually.
2) The potential of reduced Iraq operations, where huge sums have been thrown.
3) There’s little in the stimulus bills for them.
Timmy Geithner Business Card
Wall Street Beeches throw a tantrum.
Waaaaa!!! We want a bigger handout.
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