It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Ismail
The Dow is plunging again, - 450 pts and still going down. Here come the sell offs....
Originally posted by infinite
Bottom is 7,700 IMHO
As the financial crisis threatens to spiral out of control, it’s more likely Treasury Secretary Henry Paulson will take extraordinary steps through the extensive authority granted to him under emergency rescue legislation, say analysts.
With the legislation’s main mechanism—an auction system to purchase bad mortgage-based securities—still weeks away from implementation, Paulson may have to inject capital into any number of financial institutions—even non-depository ones like investment banks, insurers and hedge funds.
“I don't wish to spread alarm on the line people but the big issue confronting the market is I'm afraid the health and sustainability of Morgan Stanley (NYSE:MS - News) and Goldman Sachs (NYSE: gs)," Hugh Hendry, Partner and CIO at Eclectica, told CNBC. "It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend," he add.
Originally posted by tolovethetruth
Ok so I have a very simple question. Should I withdraw some cash from the bank? I got a "weeks worth" ($240.00) out last week and still have all of it, but should I go get more? I have heard that bank runs can crash the system and contributed to the great depression, but then again I hear some saying that now is a good time to get your cash out of the bank. What do you all think, and what are the pros and cons of withdrawing more than usual?