That was to stave off TOTAL global meltdown. Now, perhaps, there's some breathing space and companies who should fail, will fail in an orderly fashion, as they should. A 'W' shaped recovery is best case now in think once reality hits in regard to this fundamentalless stock rally. We will eventually wake up. I hope...eeekOh yeah? And who pray tell HELPED create these Too Big Too Fail
Whats really interesting is this part:
The rules, which must be agreed by Congress, would also bar institutions from proprietary trading operations, unrelated to serving customers, for their own profit.
Goodbye prop desks? Where GS earns such a substantial chunk of its revenue? Not if they can help it!
Personally, if Obama can't get health care reform through, there is no way he will have enough muscle in the senate to get this through. With the money that is on the line the next few months will be a lobbyists dream
If the Obama talk was truely the reason for the fall last night then I'd expect a bounce tonight - really the chance of Obama getting some of those things through are pretty low... in the short term anyway.
Having said that, the media headline of what caused overnight market movements are usually not correct anyway.
Not sure if China caused this one, but as the market is a forward looking beast, it will surely hinge on the prospects of the developing countries. The US and Euro is old news now.China's been leading this fall or the actual cause.
China's the new black.
Besides, my stops will take me out this time.
CanOz
Good point, Long lobby groups! They're going to be swimming in so much cash. Obama is trying to take away the livelihoods of the rich and filthy-rich.
That was to stave off TOTAL global meltdown. Now, perhaps, there's some breathing space and companies who should fail, will fail in an orderly fashion, as they should. A 'W' shaped recovery is best case now in think once reality hits in regard to this fundamentalless stock rally. We will eventually wake up. I hope...eeek
LOL. there goes 90% of market volume
Why? Whose money will be withdrawn from the market? Public bailout money?
yeah grumby I forgot that commsux going to start let mums & pops run high frequency BOTs.
FFS!!
Unbelievably oblivious as to what caused the GFC in the first place.
Too many BOTS in the public trough who can't make their own money.
http://dictionary.reference.com/browse/bot
bot
2 /bɒt/ Show Spelled Pronunciation [bot] Show IPA
–noun Australian Slang.
a person who cadges; scrounger.
Origin:
1915–20; perh. shortening of botfly
Fairly sure he was referring to
bot
3 /bɒt/ Show Spelled Pronunciation [bot] Show IPA
–noun
a device or piece of software that can execute commands, reply to messages, or perform routine tasks, as online searches, either automatically or with minimal human intervention (often used in combination): intelligent infobots; shopping bots that help consumers find the best prices.
How much is left in kitty now to stave off a very-much-possible-at-anytime global meltdown Part Deux?
Aussiejeff,
As I have stated elsewhere, money is created out of thin air, there is no limit. The quantitative easing is just borrowing from yourself (if you are a central bank)
If things look like they are going too far south again, another $500b-$1t will just be created out of fresh air, like the last lot.
brty
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