|
Posted by Burled Frau on February 8, 2010, 11:24 pm
Please log in for more thread options
http://www.cnbc.com/id/35296846
Dow Ends Around 9,900; Financials Skid
Published: Monday, 8 Feb 2010 | 5:18 PM ET Text Size
By: Cindy Perman
Writer
Stocks tumbled Monday as financials and commodities sold off amid jitters
about the global recovery.
The Dow Jones Industrial Average dropped 103.84, or 1 percent, to close at
9,908.39, the first time its closed below 10,000 since November. The S&P 500
shed 0.9 percent and the Nasdaq lost 0.7 percent.
Major U.S. Indexes.
DJIA 9908.39 -103.84 -1.04 %0.
NCOMP 2126.05 -15.0701 -0.71 %0.
SPX 1056.74 -9.45 -0.89 %0
Worries about debt problems in Greece, Portugal and Spain have dragged on
markets across the globe for the past week as many worry that these are the
next shoes to drop. European finance ministers tried to reassure Group of
Seven leaders that the debt situation there is under control but it hasn't
been as easy convincing investors, who are backing away from riskier bets.
In addition to battling debt, Greece is faced with an assault on another
front: Organized labor. Unions are threatening more strikes if the Socialist
government goes through with a tough cost-cutting plan.
|
|
Posted by F. George McDuffee on February 9, 2010, 12:05 am
Please log in for more thread options
On Mon, 8 Feb 2010 22:24:46 -0600, "Burled Frau"
<snip>
>Worries about debt problems in Greece, Portugal and Spain have dragged on
>markets across the globe for the past week as many worry that these are the
>next shoes to drop. European finance ministers tried to reassure Group of
>Seven leaders that the debt situation there is under control but it hasn't
>been as easy convincing investors, who are backing away from riskier bets.
<snip>
=============
Because of globalization and the "brave new world order" its all
one economy.
Obama and his administration have very considerable
accountability for this situation.
While it is true that many of these problems are the result of
long standing practices going back many years, it is also true
that the Obama administration did not make the required
regulatory changes, pounding these up the banker's nose [I said
NOSE] with a 10 pound maul as required during the 18 months since
the collapse of Lehman Brothers.
(1) A new super Glass-Steagall-Volker act has not been enacted.
(2) Derivatives and commodity trading/speculation are still
largely unregulated.
(3) A "small enough to fail" market share and capitalization cap
on financial institutions including banks and insurance companies
has not been imposed.
The old observation "If you always do what you've always done,
you'll get what you always got," remains true. In this case
another bubble burst, resulting in another market crash ,and
another tax payer screw job.
Unka George (George McDuffee)
..............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).
|
|
Posted by F. George McDuffee on February 9, 2010, 1:24 pm
Please log in for more thread options
On Mon, 08 Feb 2010 23:05:35 -0600, F. George McDuffee
<snip>
>While it is true that many of these problems are the result of
>long standing practices going back many years, it is also true
>that the Obama administration did not make the required
>regulatory changes, pounding these up the banker's nose [I said
>NOSE] with a 10 pound maul as required during the 18 months since
>the collapse of Lehman Brothers.
>
>(1) A new super Glass-Steagall-Volker act has not been enacted.
>(2) Derivatives and commodity trading/speculation are still
>largely unregulated.
>(3) A "small enough to fail" market share and capitalization cap
>on financial institutions including banks and insurance companies
>has not been imposed.
<snip>
===========
I have received several off-list emails on this observation.
Todays Wall Street Journal has an article that parallels this.
See
http://online.wsj.com/article/SB20001424052748703630404575053514188773400.html
<
Unka George (George McDuffee)
..............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).
|
|
Posted by F. George McDuffee on February 20, 2010, 7:44 pm
Please log in for more thread options
On Mon, 8 Feb 2010 22:24:46 -0600, "Burled Frau"
<snip>
>Dow Ends Around 9,900; Financials Skid
>Published: Monday, 8 Feb 2010 | 5:18 PM ET Text Size
>By: Cindy Perman
>Writer
<snip>
US stock bubble now reinflated to about 10,400 DJIA [19 Fed 10],
with no supporting data such as improved earning/increased
dividends, new products, etc., but apparently with more tax payer
dollars through TARP, the FRB and other "secret" recovery plans.
[Shades of Richard Nixon!!!]
CNN has an article about the application of the RICO
http://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act
statutes to the tobacco companies, seeking disgorgement of their
illegal profits, totaling about 280 billion $US for sales and
promotions to young people [under 18].
http://edition.cnn.com/2010/US/02/19/scotus.tobacco/
This case should provide a clear indication if the Supreme Court
is "fixed" in favor of the corporations.
[click here for possible SCOTUS theme song
http://popup.lala.com/popup/576742270266937725
video
http://www.youtube.com/watch?v=IwN1JTYi5w4 ]
Now if the DoJ will just apply RICO ( and force disgorgement ) to
the banks, brokerages, hedge funds, mutual funds, venture capital
funds, private equity funds, money market funds, insurance
companies, etc. etc. and their officers and directors...
Unka George (George McDuffee)
..............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).
|
| Similar Threads | Posted | | as hastily as Steven seeks, you can establish the revival much more angrily | August 12, 2007, 11:45 pm |
| OT: EBAY Loser 2nd Chance Scam | May 10, 2006, 1:14 am |
| jimmie's front tends after our relief after we produce against it | August 13, 2007, 12:34 am |
| Otherwise the shield in Jim's relief might host some lengthy strains. | August 13, 2007, 9:51 pm |
| Thanks 0bama! | March 2, 2010, 10:11 pm |
| FA Vintage sculptors craft manual sculpture bronze relief | November 15, 2007, 6:49 pm |
| OT: 0bama goes to bat for America. | March 14, 2010, 1:01 pm |
| Re: Did 0bama just smell the coffee?? Looks like it. | January 23, 2010, 8:02 pm |
| 0bama hypnotizes his own party into trance | January 30, 2010, 1:59 pm |
| proof found ... 0bama attended school in U.S.A. | February 19, 2010, 12:12 am |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap
>markets across the globe for the past week as many worry that these are the
>next shoes to drop. European finance ministers tried to reassure Group of
>Seven leaders that the debt situation there is under control but it hasn't
>been as easy convincing investors, who are backing away from riskier bets.