AIG isnt going to get a bailout package imho. AIG has tremendous exposure to Europe CMO"s to the tune of $1 Trillion....When you have Abu Dhabi funds stepping away things may get ugly quickly..I wouldn't be surprised if we see moron (Bernanke) cut rates before the open tomorrow..This dopey bast*** hasnt learned a thing..Dow 7500 would be interesting,doubtful but interesting..Lets not forget that hedge funds have $160 Billion in cash that is ready to be put to work in this market..Equities can get cheaper no doubt..I wouldn't buy into the panic of worrying about your money etc...Your money is insured up to $100k and then capco insurance takes over..So you are fully covered up to %100...But the panic is setting in and the blood is in the streets..Don't throw rocks at me but these times are historically the buy points..You can bet that the blackboxes were kicking out buy signals in every major trading room near todays close...You have the cojones????
Don't throw rocks at me but these times are historically the buy points..
After all these bailouts, it appears the rich are getting handouts too! Why are there no heads on the chopping block? It appears to me that CEO's, executives, etc.. should be held responsible for these bailouts.. Someone needs to lose their job!
News is breaking at an incredible pace. From what I understand, the SEC has now placed a 10 day ban on ANY shortselling of 799 companies. So, you can no longer bet that the stock of a company is going down. INCREDIBLE! No wonder the market won't go down (as it should), the government is making it ILLEGAL!!! IDIOTS!The government is also talking about a repository for bad bank debt - MEANING A HUGE BAILOUT OF THE BANKING INDUSTRY! I say, let the banks fail!The government has also just announced some sort of insurance programs for money market funds!Welcome to the United Socialist States of America! Oh, BTW, keep in mind that this is not fixing the problems in the country, it is only making them worse!Mike