In other news...

[Meiac09]

Since we all (myself included) were bitching one way or another about Obama, does anyone here have any idea why the markets plunged 4-6%? Yahoo didn't have much to say on it, because there were only articles referencing the inauguration and Aretha Franklin's hat.

"Stocks are getting crushed because of the never-ending tragedy that has fallen upon the banking sector," said Tom Sowanick, chief investment officer of Clearbrook Financial LLC in Princeton, New Jersey

Theres hope for ya
http://www.reuters.com/article/marke...0090120?rpc=44

[PersonaNonGrata]

Oh and Israel completed its withdrawal from the Gaza.

But how about that hat???

[cmyX6go]

I heard on the news this morning that historically the market has gone down on Inauguration Day

[motordavid]

No WallStMaven here, but the Inag was semi-coincidental, imo...

The Financials, esp the Banks & the "banks", still suck and will
continue to suck. Another Trillion in the wings, besides TARP.
The printing presses are running 24-7 but even that cannot
force "liquidity" through a system that is near vulture-like these
days, imo. Manufacturing, retail sales, the usual stuff we all
do and buy...fugly for some time to come, imo.

Last update: 4:21 p.m. EST Jan. 20, 2009



NEW YORK (MarketWatch)-- U.S. financial stocks plunged Tuesday, falling almost 17% to match their biggest percentage decline ever as investors panicked at the likelihood that there is no end in sight for the sector's need for capital, and no easy way to raise it.

For investors who might have thought the worst was over after the nation's big three banks aired some dirty laundry last week, Tuesday provided clear evidence that the horror show continues, as well over half of the financial stocks in the bellwether S&P 500 Index lost more than 10% of their value.


One of the more witty comments I read was,
"That is what you get when you try to pick up pennies in front of a steam roller."

[Bimmer4125]

Obama's inauguration market drop marked the biggest decline on Wall St of any inauguration day. A vote of lack of confidence perhaps?

[Meiac09]

Originally Posted by Bimmer4125

Obama's inauguration market drop marked the biggest decline on Wall St of any inauguration day. A vote of lack of confidence perhaps?

I certainly hope not. I certainly, certainly, certainly hope not. Otherwise, we're essentially going to go bankrupt as a country, and hopefully not supernova, and become what Russia appears to be: gray, bleak and fairly hopeless.

I mean, what happens if everything just... collapses?

[AzNMpower32]

Originally Posted by Meiac09

I certainly hope not. I certainly, certainly, certainly hope not. Otherwise, we're essentially going to go bankrupt as a country, and hopefully not supernova, and become what Russia appears to be: gray, bleak and fairly hopeless.

I mean, what happens if everything just... collapses?

We'll bring the rest of the world down with us, in a pile of flaming wreckage and ashes.

I'll be lucky if I get any internship this summer.

[blondboinsd]

Originally Posted by Bimmer4125

Obama's inauguration market drop marked the biggest decline on Wall St of any inauguration day. A vote of lack of confidence perhaps?

Their afraid of all the "change" this is coming! Our stock (health insurance sector) dropped major today as well.

[Meiac09]

Originally Posted by AzNMpower32

I'll be lucky if I get any internship this summer.

Considering that most are unpaid, I don't see why you or I should have any issue. Surely there is some governmental agency in DC that has enough money to waste on extra staff for the summer.

[AzX5]

Change, change, change! It's upon us...

http://www.youtube.com/watch?v=d_Z5K...le.php?id=5630