Lets see what is Wall Street going to extort from congress now hummm. What is congress going to say when the Dow breaks 10000. Let me guess. Can you imagine were the Dow would be if had done nothing, is my guess . Yes thatâs it take a que from Bernake and Paulson.
this is classic buy the rumour , sell the news. its friday afternoon....next week may be rough, but the markets should turn after that. i find it always takes longer than you think for a reversal to take place.
If the Fed hadn't done anything, the same thing would've happened except much sooner. We gave gifts all year to Wall Street. The eventual result will still unfold. Should've never done the "surprise" cut to the discount rate. Panic was just about jumping as benchmarks began to plummet. The would have found a bottom by now and perhaps be back up. Banks would have quickly moved to consolidate/write off terribly bad assets - reset and go! Government got pimped by the Street. p$