Thread: Market News

Braveheart wrote:

The “Bail Out” bill isn’t a bipartisan effort – it’s a ploy to play politics once again by the Democratic camp.

Let me see- it's Bush's Treasury Secretary who asked for it.

It's Bush who is pushing it now.

The Senate Dems, the President, and the Senate Reps all agree something needs to get done, and there is just one group who seems to be insisting on derailing it...

House Republicans.


Hmm...

And can you please cite how that is Dems playing politics?


Then you go on to write:

So before you vote on Nov 4th, become informed, do your homework and pick a real leader that will place our country first and refuses to blend in with the "elite crowd."

Ah yes, I will do that Braveheart. I will "become informed, and do my homework".

By the way- I've been "becoming informed and doing homework" since before you were born. I worked on the Nixon Campaign in '68, and '72. For which, by the way- I hereby apoligize out there.

Today- There is a candidate - a great leader--who will put our country first, before the special interests crowd.

And it isn't Johhnyboy.


But this conversation should perhaps be moved over to the Lounge.

According to Jubak, passage of a bailout plan will probably trigger an explosive ~3 month rally - at which point we start to figure out what the actual impact of the bailout is. If it fails to restart the flow of capital for borrowing, we'll sink right back down.

And to you political types, I will say the following: I cannot support either candidate. Neither one of them has shown any desire to want to put the clamps on federal spending. A perpetual rise in the federal debt is not a good thing, but nobody seems to care. This year alone, we're looking at a trillion dollars in bailouts. A trillion! Doesn't anyone wonder what this is going to do to the long term financial health of this country? To interest rates?

Originally Posted by Mike

According to Jubak, passage of a bailout plan will probably trigger an explosive ~3 month rally - at which point we start to figure out what the actual impact of the bailout is. If it fails to restart the flow of capital for borrowing, we'll sink right back down.

I could see this happening and falling directly in line with the historical patterns for election year rallies and a failure after a new party administration following a two term administration.

[QUOTE=Mike;183101] I cannot support either candidate. Neither one of them has shown any desire to want to put the clamps on federal spending. Plus we are broke, there is no money. We will be asking China for lunch money soon.

I doud't if the Dems can out perform the Republicans when it comes to spending they were grazing in the grass for the past eight years.

I would like to know how they can say with a straight face that this went unnoticed. I sat at work for the last 7 years in amazement watching my co-workers buy investment properties, and watched others who make a combined family income of 95K/yr buy homes in gaited communities worth 550K. Our political system is morally bankrupt and we all should push for a white collar crime bill with this bail out plan that locks these dead beats up for crimes against America. May be we can link this to Homeland Security and let them do it, as our national security has been compromised by this mess. Carla Fiorina's is considered a role model, now figure that one out.
We are screwed, that for sure.
Hold the coffee please.

Originally Posted by james48843

my prediciton for today:


Today will become known to future market historical buffs as "black friday", after the congress failed to come to agreement on a bill- house republicans rejecting the bush proposal on the bailout.... Wamu bank goes under, the market reacts by opening sharply downward, and by noon, being unable to recover, trading is suspended after a 1,000 point fall in the dow.

Well, maybe, and maybe not.

It's 9:29 a.m.- where do you think today will lead? One vice presidential candidate yesterday invokved "the great depression" as a likely outcome.

Hmm.....

Wall street bankers looking for work next week?

Attachment 4748

Today is GREEN Friday !!!!

http://blogsforjohnmccain.com/category/tags/bail-out -----The next time you state "Braveheart wrote" check the post #1027 below. That is a link so to be "Fair & Balanced those were not my words and since you worked on the Nixon Campaign you should know better and read everything including the link. That was information not some MSNBC cheerleader. There will be a debate tonight and yes "Johnnyboy" will be there I will make that prediction but I already had the facts so that was easy.

[BRIEFING.COM] S&P futures vs fair value: -15.40. Nasdaq futures vs fair value: -24.50. Futures point to a sharply lower, with selling interest driven by some disappointment over the details of the recently reached agreement between Congress and the White House on the $700 bailout deal and news that several European financial firms were bailed out. The House is expected to vote on the bailout plan today. Shares of Wachovia (WB) are tumbling 55% in premarket trading on reports that the bank is in talks with several firms to sell itself, according to reports. In overseas news, three European governments bailed out Belgium bank Fortis, the U.K. nationalized mortgage lender Bradford & Bingley and Germany's Hype Real Estate Holding was rescued by a consortium, according to The Wall Street Journal.

[BRIEFING.COM] S&P futures vs fair value: -19.20. Nasdaq futures vs fair value: -28.00. Futures continue to suggest a sharply lower open. Citigroup (C) is acquiring Wachovia's (WB) banking operation in a deal facilitated by the FDIC. The FDIC entered a loss sharing arrangement, where Citi will absorb up to $42 billion of losses on a $312 billion pool of loans, with the FDIC absorbing losses beyond the $42 billion. Wachovia will continue to own AG Edwards and Evergreen. WB is down 89% in premarket trading. In economic news, personal income rose 0.5% (consensus +0.2%) in August and spending was flat (consensus +0.2%). PCE, an inflation measure, was unchanged month-over-month. Excluding energy and food prices, PCE rose 0.2% (consensu +0.2%).

Another bank implosion.

Must be Monday.

At least the FDIC is using reason and brokering deal instead of insuring deposits. That would be huge. I would say that is a tick mark in the good job column.

House Rejects Bailout For US Financial Markets

Cant' wait to see how the vote went by state representative.