Hi Everone,
Just a quick follow on to my last post. It seems that Majority Leader Harry Reid, D-Nev. was wrong when he said that Wall Street today is "not going to be a pleasant sight."
I can understand his thinking as along with the refusal by Congress to bailout the big three, consumer sales dropped for the fifth straight month and Former Nasdaq chairman Bernard L. Madoff has been arrested for fraud (to the tune of $50 billion) it would be enough to make the DOW tumble somewhat.
On Yahoo! I see that the DOW is down a mere 80 (plunge) points. I wonder why? I think it's because (plunge) George W. and Paulson have suggested that the Fed (plunge) will send the $15b to the car makers (where does the Fed get all this money from?).
Why does the present president want to bail out the big three and Congress doesn't? It wouldn't be because he wants to leave office with everthing intact and deepen the hole for the next president to try and dig himself out, would it?
Enjoy Christmas. Watch out January, here we come.
Best regards,
Steve
Quote:
Originally Posted by Steve_A
Hi Everyone,
Looks like the bailout package for the big three has been ruled out by the senate.
That should put the cat amongst the pigeons a little. 
Majority Leader Harry Reid, D-Nev., called the bill's collapse "a loss for the country," adding: "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."
Let's see if he's right.
Best regards,
Steve |