So Much For The Bailout....

reply to post by Truther

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Your guess is as good as mine. I don't even know if anything will happen on Tuesday or not. It is starting to feel like it will though. Maybe it will be when the market opens on Tuesday... It makes about as much sense as anything else does right now.

Before the end of the day?

I'm sorry but i just couldn't make myself not to share this with you






All the best

reply to post by Truther

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Hey Truther, if I may...

A crash is defined by steep double digit percentage drops in the value of stocks over the course of several days.

The US has a "Plunge Protection Team" that will close down trading if the drops are too fast, sometimes for a portion of an hour or day, sometimes completely, it depends on the level of the drop and the time of day.

IF (note the big 'if') there is such a drop today that the PPT steps in and shuts down trading today, then we may find that tomorrow many are out there selling everything they can to cash out. It is theoretically possible that a crash could occur in 2 days, especially when foreign exchanges are trading and we are staring with a negative upon opening.

Of course, the PPT would step in tomorrow too, the question would then be, how much sold before they could stop trading.

Again, all hypothetical, we have to wait and see what happens when the markets open today.

What time do the Markets open in the US? I live in Ireland, its nearly 12.30 here, I think we're 5 or 6 hours ahead of the you..

reply to post by Truther

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9:30 AM EDT I think that's 3:30 your time

Why dosent just use real dollars instead, they'd be worth the same as the zero dollar

On the wire, Iceland of all places have just suspended trading. Severe problems there...

The banks are taking down the European markets. Asian markets were also down sharply.

...what bailout

Looks like only specific stocks are affected in Iceland, although I may be reading it wrong...

Source

Edit to add:

Although Russia suspended trade due to prices soaring

source

[edit on 10/6/08 by redhatty]

What really pisses me is everyone who voted to put my great grand kids in debt knew the bailout was a temp fix at the very best.

If a person wants to really be mad at your leaders in Congress, look up their public disclosure documents and see what companies they have stock interests in. It will open your eyes as to their actions.

They should have just let the economy crash and burn, like it is doing, and then tell the world we have 2 trillion to throw at a new and improved system.

Yeah, it's a simple thought from a simple man, but then no one in power asked me.

reply to post by hinky

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Is there a link to where we can look that info up? I would be very curious to see what my scumbag congressman is invested in.

except that there is no $2 trillion to throw anywhere. 98% of the "money" in the world is only found in 1's and 0's. It is all a figment of the imagination.

That's the irony of it all

Holy Cow! over 250 point drop within 3 minutes of opening. Speculation is flying on whether the Fed will drop interest rates today.

reply to post by Karlhungis

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I'll toss the group a bone.

Pelosi records are here. Please note the dividends from AIG in 2007.

Not that it matters, but American Samoa was specifically mentioned within the bailout for tax breaks. Now a guy would wonder about this and then find that tuna is the principal industry of the island chain with 2 large canneries. Starkiss is one of those canneries which is owned by Del Monte. Del Monte's headquarters is where, one would ask. It's in San Fransisco, home of, you guessed it... Speaker Pelosi.

Folks, this stinks from the top down. I don't get upset about too much silly sh*t from Washington. This is just rubbing our collective noses in a pile of ....