Bail Out - DOW down nearly another 700 pts

[Bearco]

Thank you so much for all of our intelligent leaders in Washington for stepping in and taking control of our market to keep it from crashing. You have done such a wonderful job. The DOW has now fallen nearly 700 points again. Oil has dropped below $80/barrel. The global markets are crashing as well. Have we not learned from history.
http://www.foxbusiness.com/story/markets/economy/world-markets-free-fall/

 

[penguin]

What, you thought the market was going to turn around in a couple of days? The market is going to be bad for a while. As a matter of fact, most of the money from the bail out hasn't been spent and the global markets are only now putting in stop gaps from the market totally wiping out. What you're seeing right now is the market 'sorting itself out' (as so many of the members on here wanted to see happen)...

 

[Speedlace]

 

[penguin]

ahahahahahhahaah

 

[Bearco]

The market would have sorted itself out with-out any help.

 

[penguin]

The market would have sorted itself out with-out any help.

It's doing a bang-up job right now.

http://www.wpxi.com/money/17671854/detail.html

NEW YORK -- Neither PNC nor National City will comment on a rumored deal by PNC to buy National City Bank.

PNC Bank remains one of the country’s most solid banking institutions after emerging largely unscathed through the current credit crisis because it avoided being drawn into subprime mortgage lending.

Though National City managed to raise $7 billion of new capital in April, it holds billions of dollars worth of subprime mortgage money, taken on by an affiliated company with which the bank has since severed ties.

National City has been hit hard by high-risk mortgage loans and arranged a $7 billion capital infusion in April.

The Wall Street Journal cites unnamed sources in reporting Thursday that National City is in talks with several banks.

The newspaper said Pittsburgh-based PNC Financial Services Group Inc. and Toronto-based Bank of Nova Scotia are among the potential buyers.

National City spokeswoman Kristen Baird Adams doesn't deny that the bank is looking for a buyer. She says the bank doesn't comment on rumors and speculation.

Shares of National City were up 10 percent Thursday at $2.46 but are down from a 52-week high of $25.93.

No liquidity means nothing happens. Without cash coming from somewhere the crash would have been faster and harder. With the worldwide bail out measures it's like this: No bailout = a car heading into a brickwall at 50 mph with no one hitting the brakes. With bailout = a car heading into a brickwall at 50 mph with someone tapping the the brakes. Both cars are going to hit the wall, but which one is going to get hit less and take a shorter time to get fixed.

 

[SimonJester308]

The bad news is the sky has officially fallen, the good news is that Sarah Palin is still hot.

 

[Narco]

The bad news is the sky has officially fallen, the good news is that Sarah Palin is still hot.

+1

 

[Bayoupiper]

There are some stocks I've wanted to buy that are about to be bargains!

 

[penguin]

Same here. I'm watching very, very closely. Maybe I can make up for what I lost in my 401k...lol

 

[jimdana1942]

Economics of supply and demand. We have had an artificial economy for decades and decades. The only REAL thing that drives economies is supply and demand, however, the multi rich and the governments have, by their actions, created an "artificial economy" driven by greed, immorality, power, and stupidity. The eventual price we all pay for these actions is economic collapse and the collapse of Nations.

 

[Cajun_Chuck]

Hold what you got!!! You will loose a lot of money if you bail out right now.

Thank you 2nd Amendment!

 

[Bayoupiper]

Same here. I'm watching very, very closely. Maybe I can make up for what I lost in my 401k...lol

More than make up from the looks of things!