dow drops back below 9000 as fed empties it’s bag O’tricks and Taxpayers pockets!

*** DOW DEATH SPIRAL™ ***

Dow Jones Industrial Average
(DJI: ^DJI)
Index Value: 8,990.96
Trade Time: 4:05PM ET Oct. 29, 2008
Change: Down 74.16 (0.82%)
Prev Close: 9,065.12
Open: 9,062.33
Day’s Range: 8890.299363.32
52wk Range: 7,773.71 – 13,990.70

DIVE, DIVE, DIVE!

Well Cricketeers, the fed reserve has been playing Felix the cat for decades. They’ve done everything but push poindexter’s button! Now they’ve reached into their their bag O’tricks and pulled out an interest rate cut for the corpoRATeers. DAGNABIT! The bag of tricks is about empty, and the tricks ain’t working! This from cnnmoney:

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Fed cuts rates and gives grim view

Fed lowers benchmark rate by a half-point as it continues to fight the ongoing crisis in the credit markets; warns that economic recovery will take time.

By Chris Isidore,
CNNMoney.com
senior writer
October 29, 2008

NEW YORK (CNNMoney.com) — The Federal Reserve cut a key short-term interest rate by a half-percentage point Wednesday and issued a gloomy outlook for the economy due to continued worries about the ongoing crisis in the financial and credit markets.

The rate cut put the central bank’s federal funds rate at 1%. That matched the lowest level for this overnight bank lending rate ever — the last time it was at 1% was from June 2003 to June 2004.

Investors had been expecting a half-point cut and some were betting that the Fed would even cut rates by three-quarters of a point to 0.75%.

Major U.S. stock indexes which had been higher ahead of the Fed’s decision, fell after the announcement and finished mostly lower following a wild afternoon of trading.

—clip—

SONOFABUSH! While the fed and the rest of those ethically challenged feckless appaRATchiks in washingtOOn give discounts and corpoRATe welfare bailouts to the corpoRATeers, the rest of us are screwed! Even some of the dirty dem and filthy repub idiots in the house and senate are starting to get a bit of a clue concerning where the money from the corpoRATe welfare bailout is going. This from cnnmoney:

—clip—

Congress: Don’t use bailout for bonuses

Nancy Pelosi and Harry Reid sent a joint letter to Treasury about financial executives’ compensation.

October 29, 2008

WASHINGTON (AP) — Leaders from both parties expressed concern Wednesday that a taxpayer-funded bailout of the financial industry will be used to pad the pockets of executives rather than get the economy rolling again.

In an unusual display of like-mindedness, the top Republican in the House and the Democratic leaders of the House and Senate sent letters to Treasury Secretary Henry Paulson about how the $700 billion in bailout funds will be used.

“Funds made available under the economic rescue package should not be used to pay for bank acquisitions, raises and executive bonuses,” wrote House Republican Leader John Boehner.

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So let me get this straight. Those idiots in washingtOOn have handed a sack of taxpayer funded loot to the corpoRATeers and now, NOW? they’re worried the corpoRATe thieves are gonna rob it? OF COURSE THE SCUMBAG corpoRATeers are gonn ROB IT AND LINE THEIR OWN POCKETS! That’s what those thieves do!

It’s time to move to the next step:

CRIMINAL PROSECUTION OF THE corpoRATe THIEVES!

WE NEED A COMPLETE RESTRUCTURING OF OUR POLITICAL ECONOMY!

Click that link to see what need be done, then support and vote NADER for REAL CHANGE!

VOTENADER.ORG

The Telepathic Crickets™ on the ClapSotronics editorial board and I hope you’ll join us in voting NADER!


Make sure YOU WATCH THESE VIDEOS!

The scientifically impossible I do right away

The spiritually miraculous takes a bit longer

~ by ClapSo on October 30, 2008.

One Response to “dow drops back below 9000 as fed empties it’s bag O’tricks and Taxpayers pockets!”

  1. It won’t be long now, Clapso. As well meaning as the Democrat’s PR man Obama may be, he won’t be able to fend off what’s coming. “The cat’s in the bag and the bag’s in the river.”

    The meltdown for the middle class is not reversible. Assuming this is not another stolen election, President Obama will be blaming his inability to help the little people on the previous administration, along with an intractable congress.

    I fear that not too long into President Obama’s tenure, people will be saying that “it’s time for a change”…

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