Originally posted by: rchiu
IMO, this rate cut is the by product of Bear Stearns news. To have Bear Stearns bought out at $2 (it's Friday closing price was ~$30), signals how bad the credit market and MBS crisis was and still is. Fed wanna do something before the market starts on Monday to head off the possible panic and sell off. I think the quarter point drop is too little do do anything. We will see what's gonna happen tomorrow.
Originally posted by: Naustica
Originally posted by: rchiu
IMO, this rate cut is the by product of Bear Stearns news. To have Bear Stearns bought out at $2 (it's Friday closing price was ~$30), signals how bad the credit market and MBS crisis was and still is. Fed wanna do something before the market starts on Monday to head off the possible panic and sell off. I think the quarter point drop is too little do do anything. We will see what's gonna happen tomorrow.
What do you think all last week's $200 billion Fed action was? It was for Bear Sterns and Lehman. They still couldn't save Bear. Maybe they can save Lehman but I doubt it.
Originally posted by: GrGr
Originally posted by: Naustica
Originally posted by: rchiu
IMO, this rate cut is the by product of Bear Stearns news. To have Bear Stearns bought out at $2 (it's Friday closing price was ~$30), signals how bad the credit market and MBS crisis was and still is. Fed wanna do something before the market starts on Monday to head off the possible panic and sell off. I think the quarter point drop is too little do do anything. We will see what's gonna happen tomorrow.
What do you think all last week's $200 billion Fed action was? It was for Bear Sterns and Lehman. They still couldn't save Bear. Maybe they can save Lehman but I doubt it.
Wasn't it $480 billion? First $200 billion and then $280 billion on top of that?
Originally posted by: GroundMeat
Not to nit pick but:
BSC and LEH aren't eligible for the $200 B they're not banks.
Originally posted by: bamacre
This just in: Obama drops out of race, responding only with, "damn, fuck this shit, I'm out."
Originally posted by: bamacre
This just in: Obama drops out of race, responding only with, "damn, fuck this shit, I'm out."
Originally posted by: bamacre
This just in: Obama drops out of race, responding only with, "damn, fuck this shit, I'm out."
Originally posted by: ericlp
I just wish I could have bought some of that stock at 2 dollars. How the hell do you buy and sell on weekends when the stock market is closed?
I don't get it...