Todays Stock Market Thread (DJIA 7784.58 (-234.68; -2.93%) NASDAQ 1282.55 (-36.60; -2.77%)

[newsperson999]

Dow 7,784.93 -234.33 (-2.92%)
Nasdaq 1,288.09 -31.06 (-2.35%)
S&P 500 819.51 -28.25 (-3.33%)

[steveegg]

Figures that Solomon Barney Frank would be in on this.

[hchutch]

You know, if Rubin goes down, it could make things interesting politically. Bush and Cheney have, for all intents and purposes, been cleared by the SEC. Rubin, OTOH, now has a VERY serious corporate scandal on his watch, AND you have him trying to bail Enron out.

This could make things VERY interesting. And it could make the whole corporate corruption issue a wash.

[steveegg]

After Friday's "miraculous" post-closing-bell rise above 8,000, I wait a good 8 minutes before posting what I catch off of CNBC (the network, not the hopelessly-delayed web site).

[LikeLight]

Is there a good free source of real time numbers somewhere? Exactly what gives with all these "data delayed by at least 20 minutes" sites? You'd think, for example, that CNBC/Wall Street Journal or FoxNews could afford to post real time, if it was just a matter of paying some fee to the exchanges? What's up?

[steveegg]

Why do you think that the RAT Media is going back so far for Bush and Cheney for stuff they were already cleared of, while all of the shenanigans went on over the last 5 years (and most of it from 1998-2000)?

Prediction on a WashCompost headline by Thursday; Eeeevil Bush Actually Made a Profit.

[mwl1]

I wish I shared your optimism, but the media will always protect the RATS, especially Rubin, Lieberman and others.

[Dog]

But now there is Fox News...

[steveegg]

It's a legacy of the old way of releasing numbers (when everything you saw was delayed 20 minutes). Web sites are still under the old way (except those that charge you to get the numbers). CNBC, for reasons I don't quite know, can real-time them on their network, though (and thus is the reason I use their numbers when I post updates).

[Admin Moderator]

This could be very interesting...

it will be.

[hchutch]

True, but I am beginning to get the feeling they may have outmaneuvered themselves on this issue.

I am beginning to think that George Bush Jr. is the type of politician that Raymond Spruance would have been had Spruance decided to enter politics. He seems to be as cool as ice, and he doesn't fall into the manipulative traps that the Dems have tried to set. He might frustrate some on his side at times, but he'll come away a winner in the end.

[mwl1]

Good point. Bottom line is that the state of the economy, specifically unemployment and consumer confidence, will matter the most in Sept-October for the midterm elections.

[#3Fan]

Wow, he has like a million mistakes in just one sentence. There is no Government Accounting Office. It is the General Accounting Office. The GAO works for Congress and not the president. The head of the GAO is David M. Walker and he is the Comptroller General. The GAO is not an accounting office, it's an accountability office which is different. However, Walker did work for Arthur Andersen before 1999-- so he sure knows plenty about accountability. Mitch Daniels is the Director of OMB-- a Cabinet-level appointment-- and he used to work for Eli Lilly.

The media has spent the last 40 years dumbing down the sheeple to the point that it's OK to make mistakes like this. Ever see those "man on the street" questions? I don't think that a lot of people don't even know what the Congress is, let alone their accountability offices.

[mwl1]

I think it is often Dick Cheney who advises the president away from danger.

[LikeLight]

Thanks, Steve. It all does seem rather antiquated. Oh well.

[Denver Ditdat]

I am beginning to think that George Bush Jr. is the type of politician that Raymond Spruance would have been had Spruance decided to enter politics.

That's a great analogy. I like the image of W as the Spruance of politics - mind if I borrow it?

[steveegg]

Prediction for tomorrow:

DJIA -398
NASDAQ -44
S&P -37

The full effect of Citibank's latest revelations will be felt as we wipe out all the Dow's gains since November 1997.

[mwl1]

This is all speculative, but I think the market will rebound tomorrow, particularly if it appears, due to Citibank revelations, that the issue will not politically benefit the RATS... ie, that the issue is largely neutralized.

[GraniteStateConservative]

And that's why the GOP loses and the Democraps win. We overestimate the intelligence of the American people.

[steveegg]

After-hours reporting brought things up marginally (a few fractions of a point; not enough to worry about).

[LivingNet]

I guess everyone's 401(k) is now a 175(k)!