dow tanks in second trading session after corpoRATe welfare bailout
*** DOW DEATH SPIRAL™ ***
|Trade Time:||4:09PM ET Oct. 6,2008
|Day’s Range:||9525.32 – 10322.76|
|52wk Range:||9,503.10 – 14,280.00|
DIVE, DIVE, DIVE!
Well Cricketeers, it looks like the “investor class” ain’t buying the corpoRATe welfare bailout. They ain’t buying stocks either. The Asian markets showed some later gains after opening sharply lower in Tuesday trading. A surprisingly large interest rate cut by Australia’s central bank is credited with the turn around in stock prices in eastern markets. But the world markets ain’t out of the woods yet and this looks like an ongoing rout of stock prices with no end in sight. With crude prices spiking again and “quiet runs” on banks, in which bank customers quietly withdraw their funds via the internet instead of in person, this crisis seems to gain steam from one place as it loses steam from somewhere else. This from reuters:
Panic over financial system knocks Asia stocks
By Kevin Plumberg
Oct. 7, 2008
HONG KONG (Reuters) – Panic about how the U.S. and European governments have not yet found a solution to the plague sweeping through the global financial system hit Asian stocks again on Tuesday and lifted gold prices.
The South Korean won dropped 5.7 percent to the lowest in more than 7 years against the U.S. dollar as investors focused on the country’s relatively high level of debts, despite assurances from the government that Asia’s fourth-largest economy was not facing a currency crisis.
The $700 billion U.S. rescue fund, ad hoc measures by European governments and massive injections of funds by central banks around the world have not been able to stop confidence in the financial system from evaporating or growing fears the global economy is on path to recession.
On Monday, the Dow Jones industrial average closed at a 4-year low after dipping below 10,000 points for the first time since October 2004.
The ethically challenged feckless appaRATchiks in washingtOOn finally got a bit of a clue. They summoned the former ceo of lehman brothers and questioned him under oath. In answer to the question “do you think it’s fair that you get to keep $450 million dollars?” paid him by the now defunct company. This corpoRATe criminal replied that he lost $150 million in the bankruptcy. SONOFABUSH! That poor bastard, he only has $350 million left? How the hell is he ever gonna make ends meet? Next he and the rest of the corpoRATe criminals who blowed up the world economy will be complaining that their multi-zillion dollar mansions have lost value and they need a government mortgage bailout! These corpoRATe thieves need be indited! The crook former ceo at lehman was asked if he and his company “mislead investors” he answered with the sargent shutlz defense: I KNOW NOTHING, NOTHING! Expect to hear that from all the corpoRATe criminals, should anyone bother to take them in for questioning!
While the corpoRATe crooks get to stay in their palatial estates and keep their ill begotten gains, disgraceful stories like the following abound. This from ap:
Mortgage forgiven for woman, 90, who shot herself
October 5, 2008
AKRON, Ohio – Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff’s deputies attempted to evict her.
Addie Polk’s plight was cited by Rep. Dennis Kucinich, D-Ohio, on Friday before the House voted to approve the $700 billion financial rescue package. Kucinich voted against the plan.
Fannie Mae announced later Friday that it would dismiss its foreclosure action, forgive Polk’s mortgage and allow her to return to the Akron home where she’s lived since 1970.
“Just given the circumstances, we think it’s appropriate,” Fannie Mae spokesman Brian Faith said, citing Kucinich’s statement and news reports. “It certainly made our radar screen.”
Polk remained in Akron General Medical Center and was expected to recover from chest wounds suffered last week.
So now AFTER THIS 90 YEAR OLD WOMAN SHOT HERSELF the corpoRATe dogs at fannie forgive her mortgage? How many people will have to shoot themselves to keep their homes? It’s a good thing poor Addie has a bigger heart then the stone cold sheriff’s deputies who attempted to evict her. If Addie was as cold hearted as them, she would have shot and killed a couple of those deputies that day!
I’ve been saying for weeks now that this bailout ain’t gonna work. There need be MUCH STRONGER MEASURES TAKEN:
Click that link to see what need be done, then support and vote NADER for REAL CHANGE!
The Telepathic Crickets™ on the ClapSotronics editorial board and I are sick and tired of the corpoRATe crooks getting the keep the loot, while 90 year old woman are evicted!
If you want more info on the alternative debate happening around October 16 or 17, click these links:
To take action on opening the debates to Independent and third party candidates CLICK THIS LINK!
Please send an email to janut janet brown the executive director of the “Commission on Presidential (non) Debates.” Below is the email I sent her. Feel free to use that one or write your own! Her email address is: firstname.lastname@example.org
I know you and the rest of the feckless appaRATchicks in washingtOOn are busy trying to sell the Brooklyn Bridge of a corpoRATe bailout plan to us sucker taxpayers. But it would be really keen if you stopped for a second and understood that “debates” which include only the co-joined twins of the apocalypse called mcbama will amount to nothing more then the left ass cheek telling the right ass cheek that it smells bad.
After all, there is this thing called democratic process! I understand how inconvenient and annoying it can be for you in the CENSORSHIP industry, but some of us are really old fashioned and set in our ways.
We believe THAT ALL THE CANDIDATES ON THE BALLOT FOR ELECTION should be included in the debates.
This is not a request, but a demand!
I hope your 401k goes bust in the stock market crash…
I really do hope all the feckless appaRATchiks in washingtOOn lose their 401k’s in the market crash!
Don’t forget to stop by our satirical sister blog:
Make sure YOU WATCH THESE VIDEOS!
The scientifically impossible I do right away
The spiritually miraculous takes a bit longer
~ by ClapSo on October 7, 2008.
Posted in Activism, Bank Failures, Budget, censorship, Change, clapso, corpoRATe welfare, CorpoRATeer, corpoRATion, Crash, Cricketeers, DAGNABIT, debates, democrats, deregulation, Dow, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, ethically challenged, feckless appaRATchiks, government bailouts, LEMON SOCIALISM, LET NADER DEBATE!, Libertarian Party, Mortgage, Mortgage Crisis, MSM, Nader!, open the debates!, OPEN THE PRESIDENTIAL DEBATES!, Politics, Pork barrel spending, Poverty, progressives, republicans, SONOFABUSH, Stock market, Stocks, Telepathic Crickets, Wall street, washingtOOn, World Market, WTF, YOU!
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