Stocks slump despite bank bailout! Dow Down 150

[Geek_Girl]

Oh I Know, I've heard many times here on DU by the wise and all knowing market experts that I'm an uneducated uniformed yokel.

:sarcasm:


http://money.cnn.com/2008/10/03/markets/markets_newyork/index.htm?postversion=2008100316

[snappyturtle]

1. Yeah...I thought the minute *'s pen hit the paper the market would soar! NT

[Warpy]

9. It was up this morning in anticipation of the rescue plan

but there is a run on hedge funds right now and those funds have been selling equities and commodities futures in order to pay people who are cashing out.

That's why it went down again and that's why it's likely to keep going down.

[Kurt_and_Hunter]

2. If it really was a vast give-away to wall street stocks would skyrocket

So the evidence you cite once again argues against your position.

[Geek_Girl]

11. yada yada yada

nt

[lamp_shade]

3. Jobless report came out... 159000 jobs lost in September.

[ixion]

4. yeah, with the con job completed now, we'll see the veil come off

it'll be interesting to see the market on Monday. Much of the world knows what this was, and what the repercussions are going to be.

[wtmusic]

5. But it would have been much worse, believe you me

We'll take a look at it when we get back from vacation

[fascisthunter]

6. The Expertise they Implied was in BSing

themselves and then everyone else around them...

[joecooool]

7. Guess they know something we don't

It was up quite a bit this morning, then it dropped 300 points within the first hour if the bill's passing, steadied, then dropped another 150 to end the session.

[Renew Deal]

8. I think "despite" is the wrong word.

[MrCoffee]

10. So much for confidence