US Stocks Slide As Geithner Unveils Bank Plan [Dow down 382 pts at the close]

WSJ Marketwatch ^ | 11:19 a.m. EST Feb. 10, 2009 | Peter A. McKay

[Smogger]

Sell Sell SELL!!

[swarthyguy]

LOL!

Sept 19 2008 Dow Jones - 11388

Oct 27 2008 Dow Jones - 8175

THAT was the BUSH CRASH.

No Crawdaddying allowed.

[OA5599]

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.

[swarthyguy]

>.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.

[OA5599]

Not making excuses for Bush. More to it than just the president. I don't blame him for creating the bubble that needed correction; maybe for just being asleep at the wheel.

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.

[OA5599]

-381.99 at close.

[swarthyguy]

>>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.

[OA5599]

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.

[reefdiver]

On Thursday (Sept 18), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there.

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)

[SunkenCiv]

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

[justiceseeker93]

Is this a new "breakthrough" for the MSM?

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.

[SunkenCiv]

Obama and his 'bots have scared them with all his talk about how Congress must rubberstamp his decrees, and the Fairness Doctrine gum-flappin' hasn't helped either. It's one thing to carry water for the Demwit party, and it's quite another to be just another pawn. In recent decades, their supposed and claimed role -- an adversarial press -- has only been in effect against conservatives and Republicans. Now that it's obvious that Obama isn't a nuance guy, isn't a "let's sit down, talk, and work it out" kind of leader, that he's just a thug, and not a very experienced one at that. Given their steady downward spiral, I think we'll see more of their turning on him, particularly as his popularity heads south.

An appropriate lesson from history:

[Gondring]

Every time DumbO or one of his minions speak, the market tanks.

An interesting note is that the engineering firms who specialize in infrastructure also fell. Sorta tells you something about this bill, eh?

[Gondring]

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)

Yeah, but then again, the parties had swapped places...big government liberals like Lincoln were Republican.

[demsux]

An interesting note is that the engineering firms who specialize in infrastructure also fell. Sorta tells you something about this bill, eh?

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.

[reefdiver]

Lincoln was Murdered by a Democrat.
Democrats have to this day, a member of the US Senate who wear’s the ROBES of the KKK. “West Virginia “

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

[Gondring]

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.

[mgc1122]

Timmy Geithner Business Card

[Tempest]

Wall Street Beeches throw a tantrum.

Waaaaa!!! We want a bigger handout.