Wall Street Surges As Workers Lose Their Jobs and Their Homes

[coolgeee]

"What accounts for the seemingly irrational response of the stock market to this dismal news? In a basic sense, the answer is to be found more in politics than in economics.

"The newfound bullish optimism among major Wall Street players—as transient as it may prove to be—can be traced in large part to the decision by the Fed to rescue Bear Stearns last month and open the Fed discount window for cheap loans to the big investment banks. This move, without precedent since the Great Depression, was taken to avert an imminent collapse of the US and global banking system, and it signaled that the US government would do whatever was necessary—ultimately at taxpayer expense—to bail out Wall Street.

"It is this implicit guarantee from the government that has shifted the mood among big market players and institutions from fear and panic to a measure of confidence, bringing with it a new eruption of risk-taking and greed.

"As Floyd Norris, the economic commentator for the New York Times, wrote on Friday, “... investors are starting to assume that the government stands behind Wall Street. The share prices of investment banks began to recover just after the Fed made it clear the investment banks could borrow from it."


Editorial Digest
Keeping you informed!

 

[Wow]

"What accounts for the seemingly irrational response of the stock market to this dismal news? In a basic sense, the answer is to be found more in politics than in economics.

"The newfound bullish optimism among major Wall Street players—as transient as it may prove to be—can be traced in large part to the decision by the Fed to rescue Bear Stearns last month and open the Fed discount window for cheap loans to the big investment banks. This move, without precedent since the Great Depression, was taken to avert an imminent collapse of the US and global banking system, and it signaled that the US government would do whatever was necessary—ultimately at taxpayer expense—to bail out Wall Street.

"It is this implicit guarantee from the government that has shifted the mood among big market players and institutions from fear and panic to a measure of confidence, bringing with it a new eruption of risk-taking and greed.

"As Floyd Norris, the economic commentator for the New York Times, wrote on Friday, “... investors are starting to assume that the government stands behind Wall Street. The share prices of investment banks began to recover just after the Fed made it clear the investment banks could borrow from it."


Editorial Digest
Keeping you informed!

Reid and Pelosi are the twin economic killers!

 

[Paulie]

Get out of the Dollar.

 

[Ravi]

Yuh, not to mention the government is bailing out failing banks. Good for the short term, but a bad move for the long term...no accountability will result.

And Wuh blaming it on Dems is nothing more than his usual partisan blather.

 

[Charles_Main]

Yuh, not to mention the government is bailing out failing banks. Good for the short term, but a bad move for the long term...no accountability will result.

And Wuh blaming it on Dems is nothing more than his usual partisan blather.

I find myself agreeing with Ravi once again, so much for Bobo saying I am a hard core Neo-con.

 

[Ravi]

I find myself agreeing with Ravi once again, so much for Bobo saying I am a hard core Neo-con.

lol, I'm just sensible, Charles, reality knows no political agenda.

 

[Charles_Main]

lol, I'm just sensible, Charles, reality knows no political agenda.

well said, to bad so many around here have completely escaped reality.

 

[Paulie]

Yuh, not to mention the government is bailing out failing banks. Good for the short term, but a bad move for the long term...no accountability will result.

And Wuh blaming it on Dems is nothing more than his usual partisan blather.

The accountability issue is a good reason for being against it, but what about the inflation, debt, and tax burden that will inevitably ensue?

There are more bank failures to come. When is enough ENOUGH?

 

[sealybobo]

"What accounts for the seemingly irrational response of the stock market to this dismal news? In a basic sense, the answer is to be found more in politics than in economics.

"The newfound bullish optimism among major Wall Street players—as transient as it may prove to be—can be traced in large part to the decision by the Fed to rescue Bear Stearns last month and open the Fed discount window for cheap loans to the big investment banks. This move, without precedent since the Great Depression, was taken to avert an imminent collapse of the US and global banking system, and it signaled that the US government would do whatever was necessary—ultimately at taxpayer expense—to bail out Wall Street.

"It is this implicit guarantee from the government that has shifted the mood among big market players and institutions from fear and panic to a measure of confidence, bringing with it a new eruption of risk-taking and greed.

"As Floyd Norris, the economic commentator for the New York Times, wrote on Friday, “... investors are starting to assume that the government stands behind Wall Street. The share prices of investment banks began to recover just after the Fed made it clear the investment banks could borrow from it."


Editorial Digest
Keeping you informed!

The Fed is partially privately owned. Carnege, jp morgan and rockafellor started it. Control the money and you control the country and people.

The Fed loves the further we go into debt. All income tax, which is unconstitutional, goes to paying some of the interest on the debt.

Congress, senate and President didn't approve of bear stearns bail out. They just did it. That was our money. Now we are further in debt. Their excuse? It would have colapsed the economy if they didn't do it. BULLSHIT.

So much for free markets. If these banks predatory lended for 8 yrs unregulated, that was delay and bush. The Fed should take the hit. The rich bankers who own our monetary system should bail bear stearn with their own personal wealth. Bush, chaney, haloburton, telecoms, exxon, top 1 percent, etc should all pay us americans back what they stole for the last 8 yrs.

Yes brother, it is time to take America back.

 

[Paulie]

The Fed is partially privately owned. Carnege, jp morgan and rockafellor started it. Control the money and you control the country and people.

The Fed loves the further we go into debt. All income tax, which is unconstitutional, goes to paying some of the interest on the debt.

Congress, senate and President didn't approve of bear stearns bail out. They just did it. That was our money. Now we are further in debt. Their excuse? It would have colapsed the economy if they didn't do it. BULLSHIT.

So much for free markets. If these banks predatory lended for 8 yrs unregulated, that was delay and bush. The Fed should take the hit. The rich bankers who own our monetary system should bail bear stearn with their own personal wealth. Bush, chaney, haloburton, telecoms, exxon, top 1 percent, etc should all pay us americans back what they stole for the last 8 yrs.

Yes brother, it is time to take America back.

See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.

How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail?

 

[sealybobo]

See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.

How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail?

I'm a tax IF you are going to spend liberal. I think Pelosi called it pay go?

None of us like the excessive pork. FYI, even though the dems control congress, the gop still spent more pork in 2007. Can't get anything done if you don't give gop their pork.

Clinton balanced his budget, sortof. Better than Bush.

I think Obama is a great man. He's no Ron Paul, but you see what the Gop and corporate media did to him. All politicians knw he is right, but as Charles said, "talking against lobbyists is political suicide".

Ron Paul went on Air America. They/we/I agree with a lot of what he has to say. We also agree on some things Libertarians have to say. But it is either going to be McCain or Obama, and again, I think Obama is a great man. Statesman. McCain was until he sold out to the devil. He will continue the destruction of the American middle class.

My grandma says, "at least the democrats give a dog a bone".

Tax and spend. What a neocon thing to say. So you prefer a throw it on the debt and spend gop?. I'd love to see your credit card debt.

 

[Charles_Main]

See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.

How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail?

I think Bobo just makes it up as he goes.

 

[Paulie]

I'm a tax IF you are going to spend liberal. I think Pelosi called it pay go?

None of us like the excessive pork. FYI, even though the dems control congress, the gop still spent more pork in 2007. Can't get anything done if you don't give gop their pork.

Clinton balanced his budget, sortof. Better than Bush.

I think Obama is a great man. He's no Ron Paul, but you see what the Gop and corporate media did to him. All politicians knw he is right, but as Charles said, "talking against lobbyists is political suicide".

Ron Paul went on Air America. They/we/I agree with a lot of what he has to say. We also agree on some things Libertarians have to say. But it is either going to be McCain or Obama, and again, I think Obama is a great man. Statesman. McCain was until he sold out to the devil. He will continue the destruction of the American middle class.

My grandma says, "at least the democrats give a dog a bone".

Tax and spend. What a neocon thing to say. So you prefer a throw it on the debt and spend gop?. I'd love to see your credit card debt.

I'm the farthest thing from a neocon, brother. When I say tax and spend, it's because that's what liberals do. And I'm not just talking about liberal dems, I'm talking about the liberal CONGRESS. That's what it is now, it doesn't matter which party. There are VERY FEW true fiscal conservatives in congress today. I realize the Bush tax cuts were favored by the GOP, but I also realize that the inflation tax that kills us today is favored by BOTH parties equally, and it more than cancels out the measly little tax cuts as far as I'm concerned.

What I just can't comprehend though, is how you could support Obama and Paul. They are just about polar opposites domestically and especially economically, and Obama has proven himself to be such a flip flopper now, that there's no way of knowing whether he'll come through on his Iraq promises. And let's be real, the Iraq promises are the only thing he really had in common with Paul, the only difference being that Paul would withdraw immediately.

 

[sealybobo]

See now, you confuse me. You usually hit the liberal talking points right on the head, and you apparently support Obama. But then you come in and hit all the typical Ron Paul talking points, which are anything BUT liberal.

How can you be a tax and spend liberal, and advocate free markets, getting rid of the Fed (which bankrolls spending), and letting failing banks fail?

I got it! I'm a Daily Show Democrat. Not too proud to admit when the dems screw up, but clearly it is the republicans that are ruining America.

 

[Charles_Main]

I got it! I'm a Daily Show Democrat. Not too proud to admit when the dems screw up, but clearly it is the republicans that are ruining America.

Really, I could have sworn the Democrats had been in control of Both houses of congress for 2 years now. Silly me.

 

[sealybobo]

I'm the farthest thing from a neocon, brother. When I say tax and spend, it's because that's what liberals do. And I'm not just talking about liberal dems, I'm talking about the liberal CONGRESS. That's what it is now, it doesn't matter which party. There are VERY FEW true fiscal conservatives in congress today. I realize the Bush tax cuts were favored by the GOP, but I also realize that the inflation tax that kills us today is favored by BOTH parties equally, and it more than cancels out the measly little tax cuts as far as I'm concerned.

What I just can't comprehend though, is how you could support Obama and Paul. They are just about polar opposites domestically and especially economically, and Obama has proven himself to be such a flip flopper now, that there's no way of knowing whether he'll come through on his Iraq promises. And let's be real, the Iraq promises are the only thing he really had in common with Paul, the only difference being that Paul would withdraw immediately.

You don't want to spend money onAmerica? Bush didn't for 8 yrs and it needs a face lift. Bridges, levys, etc. But if/when the dems overspend, I won't be happy about it either.

And I don't agree with ron paul on everything, but we agree the gop screwed up america. outsourcing jobs, manufacturing, hiring illegals, the war. etc.

And the Obama flip flop is you falling for the gop smears they did to the woman governor of texas bush beat, clinton, gore, kerry and mccain. this is why i'm holding my breath until november. voters are easily duped. don't fall for it.

And did you see today that al maliki agrees with obama's timetable? so obama was beating mccain 58 to 38 percent on the economy but losing 40somethng to 30something on foreign policy. Now Obama is closing that gap.

Obama is an honest man. I like everything he has to say. Nader and Barr are trying to help McCain win. I'm a democrat. Or more so I am anti gop on almost every level. I didn't like them in the 90's and they are even worse now. Tom Delay is the devil, so is chaney.

The gop represents the top 1 percent. The dems represent the middle class. What are you?

If you are super rich and your job is safe, by all means, take a chance McCain isn't going to have to answer to all the lobbiests running his campaign. That's your right.

Now, lets get back on topic.

 

[sealybobo]

how about the gop bankrupted the treasury to try and privatize social security. unacceptable! is ron paul for that?

that doesn't fly with the majority of americans. nothing wrong with the program. its what politicians ar doing to it. that's the problem

 

[sealybobo]

Really, I could have sworn the Democrats had been in control of Both houses of congress for 2 years now. Silly me.

I was trying to ignore you but I have to point out why you are wrong, stupid and a republican.

the dems can't fix what bush and the delay government did with a one person majority, not with all the filibusters, bush vetos and with liebermann being that one person. and they can't get the bush cronies in the justice department to inforce the laws they do pass.

you know what? if you don't know, you don't want to know. vote for barr.

 

[sealybobo]

put a gun to charles head and make him pick gop or dem and he would pick gop. that's proof he doesn't get it. he knows what is wrong but places blame on the wrong party. the gop broke a pork record in 2005 and then broke that record in 2006. that's just one horrible thing the gop did in the last 8 yrs. lets go blow for blow on horrible things the demms did in 2007 and 2008 and i'll go with what the gop did from 2005 and 2006 when they were in power.

don't say sign the fisa bill either, because 30 dems signed that and EVERY gop signed it. or almost every gop, so the dems would win that on percentages.

you will find the dems are better or the lesser of the 2 evils.

 

[Care4all]

wall street is soring cuz oil prices went down cuz mexico put in a stop loss at $140 a barrel as topping out....no other countries have followed that own oil so who knows how the speculators will react if no others do the same as mexico did...but initially, it made them sell, thus the price drop in oil...is what i heard on the 24/7 news