Kid Cid Posted October 3, 2008 Share Posted October 3, 2008 Basically they screamed the Sky is Falling and stole $700 billion from taxpayers. The rest is just complicated. Sigh...too true...all too true. Quote Link to comment Share on other sites More sharing options...
yo mama Posted October 3, 2008 Share Posted October 3, 2008 I don't even know what's different about this bill compared to the last. So its hard to say whether passing the bill was good or bad. How is the oversight different? Executive comp issues? Impact to the the American taxpayer: are we owners or lenders? Quote Link to comment Share on other sites More sharing options...
alexgaddis Posted October 3, 2008 Share Posted October 3, 2008 Basically they screamed the Sky is Falling That was only Dmarc Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted October 3, 2008 Share Posted October 3, 2008 My congresswoman (Emerson) voted for it. I will never vote for her again. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted October 3, 2008 Share Posted October 3, 2008 (edited) That was only Dmarc come talk to me in a year. please do. this economy is garbage. it isnt over, not even close. this market may get a pop from a rate cut. but i will not get suckered in to buying. http://finance.yahoo.com/echarts?s=^DJI#ch...ource=undefined Edited October 3, 2008 by dmarc117 Quote Link to comment Share on other sites More sharing options...
muck Posted October 3, 2008 Share Posted October 3, 2008 Market sold off because the market ran up before the vote (buy the rumor, sell the fact). Related to whether or not this was a good package ... probably not. There were some things that didn't involve writing a $700B check that I'm not sure if they got added to the final bill or not (haven't had time to look). Does anyone have a second to see if language was included that would speed up the date to (say) October 3, 2008 (or so) that the Federal Reserve could pay interest on excess deposits at the Federal Reserve from its member institutions? I think this was originally scheduled to be in force on October 1, 2010 and there was some discussion of moving this date up. Does anyone know if it got moved? IMO, this could be a very big benefit ... I hope this was included. .............. FWIW, I covered a bit of my short position within the last hour or so, but I'm still short the market and am looking to increase that if the market rallies a bit from here. Quote Link to comment Share on other sites More sharing options...
muck Posted October 3, 2008 Share Posted October 3, 2008 (edited) come talk to me in a year. please do. this economy is garbage. it isnt over, not even close. http://finance.yahoo.com/echarts?s=^DJI#ch...ource=undefined Another view of the DJIA... Here's Japan Edited October 3, 2008 by muck Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted October 3, 2008 Share Posted October 3, 2008 (edited) Another view of the DJIA... Here's Japan im obviously talking of the last year. this economy in the short term is garbage. no need to pick the bottom cause the bottom could be very far from here. which is why you are still short i assume. also just cause it historically has gone up means squat(i think u have said this as well). how much of that rise was because of the easy money we all had access too. american financial system will forever be changed after this. the amazing bull markets from yesteryears are far away imo. edit.....hows trading been? these are like the late 90's here. Edited October 3, 2008 by dmarc117 Quote Link to comment Share on other sites More sharing options...
Sgt Ryan Posted October 3, 2008 Share Posted October 3, 2008 My congressman Hall from Texas voted NO. Im very happy with that decision. The American Public should just put the list of voters that voted for this, to be black balled from ever being elected again. Quote Link to comment Share on other sites More sharing options...
muck Posted October 3, 2008 Share Posted October 3, 2008 im obviously talking of the last year. this economy in the short term is garbage. no need to pick the bottom cause the bottom could be very far from here. which is why you are still short i assume. also just cause it historically has gone up means squat(i think u have said this as well). how much of that rise was because of the easy money we all had access too. american financial system will forever be changed after this. edit.....hows trading been? these are like the late 90's here. ...why do you think I added the picture of Japan? ...trading = really bad in the first part of the year and much better recently ... about break-even on the year in the active stuff I do (which is beating the pants off of the long-only types), and up on the year in the private stuff I do outside of the markets...working on a new group of trading models that may go live as early as mid-October...pretty excited about the new stuff... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted October 3, 2008 Share Posted October 3, 2008 ...why do you think I added the picture of Japan? ...trading = really bad in the first part of the year and much better recently ... about break-even on the year in the active stuff I do (which is beating the pants off of the long-only types), and up on the year in the private stuff I do outside of the markets...working on a new group of trading models that may go live as early as mid-October...pretty excited about the new stuff... didnt see the second link. nice work on the new models. im hoping we do not plummet cause biz will def dry up for awhile if that happens. Quote Link to comment Share on other sites More sharing options...
TimC Posted October 3, 2008 Share Posted October 3, 2008 American International Group (ticker: AIG) Shares of the troubled insurer rose up from the ashes, surging 19%. The Wall Street Journal reported that former AIG chief executive officer Hank Greenberg has asked the current CEO for the chance to bid on any assets the insurer plans to sell. Quote Link to comment Share on other sites More sharing options...
millerx Posted October 3, 2008 Share Posted October 3, 2008 First time caller, Long time listener... Question to those that are smarter than I... Now that the bailout (excuse me... rescue ) has occurred... Have the rules and regulations that got us into this mess been addressed? If not, are they gonna be addressed? As I have tried to follow this bill and have watched all the experts and politicians talk about what caused this mess (i.e. sub-prime mortgages, etc.). I have been wondering if their focus has been on getting the bill passed first and then addressing the problems, if it was wrapped into the bill and just wasn't discussed, or if they aren't going to do anything to fix the catalyst that got us here in first place? I'll hang up and listen to your response. Quote Link to comment Share on other sites More sharing options...
muck Posted October 3, 2008 Share Posted October 3, 2008 Regulations have been in the 're-do' phase since March when Paulson (Treasury), Bernanke (Fed) and Cox (SEC) said they need to be overhauled. Don't look for anything until after the new President / Congress are sworn in. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted October 3, 2008 Share Posted October 3, 2008 I see Muck lurking, so let me ask: Muck, how exposed are hedge funds to credit default swaps? (Are we looking at a hugh wave of hedge fund collapses soon?) A couple of interviews I've seen with investment gurus seem to suggest so. They said that they aren't names most of us know, but their fall with have a very negative ripple effect through the rest of the economy. as bad as this bill turned out to be, this had to be done We'll see. I'm guessing things still tank pretty hard and the $700B was a waste. This does not make me happy. But since the voice of the American people is drowned out by the voice of American corporations, I guess what I think really doesn't matter. I think a lot of us are feeling this way. I feel positively deflated. Wiegie - I read that there was a rider on this to mandate mental health coverage on insurance plans - any truth to that? Yes - those provisions were over 100 pages of the bill. I have not read it in detail, but have no doubt it's not a good thing overall, or the legislation would have stood on its own merits. Basically they screamed the Sky is Falling and stole $700 billion from taxpayers. The rest is just complicated. Unfortunately, that sums it up pretty well. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted October 3, 2008 Share Posted October 3, 2008 (edited) I know that I am disgusted with all the politicians that voted for this bill both in the house and the senate, for allowing pork to be added to it. Those that added the pork should be outed so the whole nation knows who they are. It's not so much a case of "allowing" as "demanding". This pork is pure bribery put in there to turn the votes of individual representatives who voted No last time out. Your ire (and everyone's) should be directed at the small band who switched sides - those are the ones the pork was given to and that is why it passed. Edited October 3, 2008 by Ursa Majoris Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted October 4, 2008 Share Posted October 4, 2008 I guess I'm happy. Me too! Bring back the Clinton years. :D Quote Link to comment Share on other sites More sharing options...
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