Did anyone actually think anything great was going to come out of this, DOW is now down 360 points below 8000 and headed right for new lows. Anytime the markets jump on anticpation of a pathetic bailout or stimulus plan of any sort sell the damn rally. How many times do I have to repeat that nothing is going to work to stop this crisis, this crisis is the worse anyone has ever seen before. Worse than the Great Depression.
what's wrong with natural resources? US will need a lot of lumber for all the printing... it's all upside down. people believe in cash more with every additional dollar printed, i.e. more you print more you want it - like crack. this can't last forever.
What was that on the bottom of the screen on CNBC a few mintues ago??? 95% of FED BALANCE SHEET in "SAFE ASSETS"?????????
A break to new lows is going happen, it should have happen 10 times over, but all this talk about stimulating the economy is holding everything from really falling apart. The dow will break 7500 and head to 7000 I would be getting really bullish at 6500-7000 range.
TARP part one, I mean back when it was first approved, was intended to buy the bad assets of banks. Then Paulson changed his mind and said he will invest the money directly into the banks, even though he never clearly said what that meant. So basically, we are back to the beginning, Gheitner wants to go back to purchasing the bad assets, although it looks like he wants some private money to do it, (good luck with that). And the GAO still hasn't found out what happened to the first tranche of the TARP money. This looks bad, really bad.