Matthew on 10/10/2008 at 13:50
Yay!
Rogue Keeper on 10/10/2008 at 14:43
It is, but not in "Duck and cover, Lenin rises from the dead!" way.
(Just yet.)
In fact I smell there is far more cunning strategy behind Paulson's actions. Right now it's the decision period which creates basis for how the banking system work in the future and more importantly, who will profit on it. Even chaos can be a tool for someone who knows how to use it for his gain.
mxleader on 10/10/2008 at 15:08
R.I.P. Dow Jones.
The stock market is dead and the big companies are weeping. Time to party while we can afford it! I think I'll go and buy a couple of cases of beer with my "credit card." :tsktsk:
Rogue Keeper on 10/10/2008 at 15:12
Cmon folks, it's not that bad. We gamers always knew best how to escape painful reality, not?
(launches Uplink to cybernetically terrorize some greedy corporations)
Starrfall on 10/10/2008 at 15:22
Hey there's some good news I guess - Wells Fargo appears to have won the bid for Wachovia and so the government isn't going to be on the hook for up to 300 billion.
Gambit on 10/10/2008 at 16:41
Hey here are some bad news:
People are looking if General Motors is ok in the same way a doctor looks at a patient with bubonic plague.
Gryzemuis on 10/10/2008 at 16:50
Quote Posted by Gambit
It´s under 9000 !!!
Today the Dow Jones index was briefly under 8000.
Wanna make a bet what the Dow will end on next friday ?
Personally I think it's gonna be below 7000.
Tonight we're gonna party like it's 1929 !(My apologies if misquoting Prince has been done here already. A quick google search showed that the joke has been used many times already. But all of them during the last week. :) On another note, god, I'm glad I haven't touched the stockmarket since I lost most of my money in 2000/2001).
a flower in hell on 10/10/2008 at 18:40
Market correction.
Sky is not falling.
the_grip on 10/10/2008 at 21:15
Market correction? This is a bear market compadre, since last October from the high.
The big deal lately is hedge fund and mutual fund liquidation. If you watch the market action (I actually trade stocks and options quite frequently) lately, you see the later morning and lunch time building in a constructive way then falling apart in the last hour. That's b/c mutual funds and the like have to start selling what they have to meet their client demands for cash. Mom and pop who just now noticed that we are in a bear market start selling the funds in their 401Ks and the like. Hedge funds are an even bigger deal b/c they get margin calls.
However, the final hour of today was constructive. Really it seems more like shorts covering in the face of G7 but things like that can start a rally. At some point soon the market should rally before it crashes to a final bottom in the beginning of next year, at least based on history and market movement precedence.
Gambit on 11/10/2008 at 11:29
(
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20081011\ACQDJON200810110359DOWJONESDJONLINE000004.htm&&mypage=newsheadlines&title=French%20Fin%20Min:%20G7%20Meeting%20Was%20Exceptional%20One) G7 meeting. Not that I think they will find a coordinated way to solve the crisis...
Quote:
French Fin Min: G7 Meeting Was Exceptional One
PARIS -(Dow Jones)- French Finance Minister Christine Lagarde said Saturday the meeting of finance ministers and central bank heads of the Group of Seven leading industrial countries in Washington Friday was an "exceptional" one because of its "unprecedented" circumstances and outcome.
Speaking from Washington in an interview with French radio France Info, Lagarde said that the G7 commitments, outlined in a short statement, were a big achievement.
She noted that the U.S. made "so many commitments," such as the possibility for U.S. banks to get recapitalized with public money.Yeah, everyone knows the people will be paying the banks one way or the other.
