U.S. Stocks Sink On Bailout Plan Worries, Oil Surge
The market internals were so weak this past Thursday, that I doubted any rally would have the chops to sustain itself and sure enough, there was a sharp pull back today from Friday’s surge.
I put up some of the headlines from Market Watch to give our readers a very generalized view of some of the market headlines today.
http://www.marketwatch.com/news/story/newswatch-us-stocks-sink-bailout/story.aspx?guid={ADAD7263-026D-4225-AA93-D5B23FF14177}&dist=hplatest
By MarketWatch
Last update: 5:00 p.m. EDT Sept. 22, 2008
Stocks give back some of their sharp gains from Friday, as the market started digesting details of a $700 billion plan to take the bad assets off ailing financial firms’ balance sheets to stem the yearlong credit crisis. See full story.
McCain, Obama trade barbs on financial rescue plan
The presidential candidates trade barbs on the campaign trail over the nation’s financial-rescue plan, with each accusing the other of inaction and of failing to grasp what’s needed in the crisis. See full story.
The end of Wall Street may mean less profit for Goldman, Morgan
For Goldman Sachs and Morgan Stanley, the benefits of being bank holding companies may come at a cost. See full story.
Short-sale ban list expanded to include GE, GM, 28 others
Pushing on to shore up the markets, the list of banned short-sale stocks has been expanded to include the likes of blue chips General Electric, General Motors and American Express. See full story.
Microsoft sets largest-ever buyback plan; H-P, Nike follow suit
Microsoft annouces $40 billion share buyback, the largest on record. Nike and Hewlett-Packard also approve repurchases. See full story.
September 23rd, 2008 at 6:37 am
Nice article on Mitt:
http://www.rd.com/blogs/loose-cannon/is-mccain-pining-for-romney/post6523.html
And McCain on Illegals:
http://michellemalkin.com/2008/09/22/the-return-of-mcamnesty-the-democrat-suck-up/
September 23rd, 2008 at 9:38 am
http://www.break.com/index/how-we-got-into-the-subprime-mess.html
This is a funny look at the sub prime mess.
September 23rd, 2008 at 10:08 am
John, thanks for the update. I have comments awaiting moderation on this post. Could you give them the “all clear?”
STAND-INS, NAPS HELP DEBATE PREPARATION
(by Monica Langley, Wall Street Journal)
To get in the debating mood, Republican John McCain will host a town-hall event and take a short nap. His rival, Democrat Barack Obama, will work out or shoot hoops. And to prepare, Sen. McCain will spar this week in mock debates with Michael Steele. Mr. Steele, the former lieutenant governor of Maryland and a prominent black Republican, will play Sen. Obama and use many of his speaking patterns, tactics and body language. Sen. Obama will practice with Greg Craig, a Washington lawyer and former official in the Clinton administration who is one of his few gray-haired advisers. After weeks of TV attack ads and prepared remarks on the stump, the candidates will face off on stage without teleprompters or advisers. With the presidential race in a near dead heat, neither candidate can afford a costly gaffe that sends his campaign into a tailspin… Each campaign is seeking even the smallest advantage. Obama advisers, for example, are considering how to provoke Sen. McCain into anger or showing what they say is how out of touch, or old, he is. Advisers have told Sen. McCain to watch out when Sen. Obama uses the phrase, “As I’ve said before…” One McCain adviser said it is used “when Obama actually changes his position, to pretend it’s what he’s always said.”
CHAT WOW this Friday night (Sept. 26) to opine pre-debate, during debate, and post-debate. CHAT WOW will officially begin at 8:00 PM EDT (debate begins 9:00 PM). Feel free to comment earlier.
September 23rd, 2008 at 11:14 am
I have a feeling that Obama will eat McCain’s lunch, then drink the coffee set out to keep McCain awake.
Sad that this is all we have to choose from. Very sad.
September 23rd, 2008 at 11:23 am
Even New Zealand thinks it should have been Mitt:
http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=10533809
September 23rd, 2008 at 2:51 pm
During interviews prior to his speech at the United Nations General Assembly today, Iran’s president, Mahmud Ahmadinejad blames U.S. military adventures for the market collapse.
Neil Cavuto summed up his United Nations speech this way: “He still hates us and Allah does, too.”
http://ca.news.yahoo.com/s/capress/080923/world/un_general_assembly_3
September 23rd, 2008 at 2:57 pm
McCain spoke moments ago; proposed five improvements to the 700 billion bail-out bill:
1. Greater accountability – proposes a bi-partisan oversight board.
2. Provide path for taxpayers to recover funds.
3. Complete transparency in drafting the bill – open to public scrutiny (suggests internet access)
4. No Wall Street executive should profit from bail-outs.
5. Completely unacceptable for any earmarks to be included on this bill.
September 23rd, 2008 at 6:11 pm
Wondering why now mccain has this plan, when he claims that he warned us years ago? could it be…and election year Hype? And exactly WHO on this bipartisan oversight board? Cumo? Kennedy? Get real.
How much is this costing us? Each man, woman, child? Bottom line it for me, mr. maverick. Tell ME how much this is going to cost MY family. And why dident he put a bill in prior to this,when he claims he knew it was comming?
I don’t trust mccain as far as I can toss him.
September 23rd, 2008 at 8:05 pm
Palin Adviser On Karzai, Uribe, and Kissinger Meetings
http://embeds.blogs.foxnews.com/2008/09/23/palin-adviser-on-karzai-uribe-and-kissinger-meetings/