Thursday, October 9, 2008

Oct. 9th , Financial Pearl Harbor

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- a day that will live in financial infamy Fear turned into panic on Wall Street today as sellers indiscriminately dumped shares and potential buyers stood frozen like deer in the headlights. Exactly one year after it hit its all-time high, the Dow Jones industrial average posted its seventh-straight loss, tumbling 678.91 points, or 7.3 percent, to close at 8,579.19. Since October began, it has fallen almost 21 percent. Investors seem to be losing faith in the ability of the world's governments and central banks to unfreeze the credit markets and prevent a severe recession. Also roiling the markets: The Securities and Exchange Commission today lifted its temporary ban on short-selling in almost 1,000 mostly financial companies. Short sellers, who bet against stocks they think will fall, have been blamed for contributing to the stock market collapse. Today, however, investors abandoned stocks in all industries. Only 12 of the 500 stocks in the S&P 500 index eked out a gain.
Even IBM, which reported third-quarter earnings that were better than expected and reaffirmed its outlook for the fourth quarter, saw its shares fall 1.7 percent. Much of the selling is believed to be coming from hedge funds and, to a lesser extent, mutual funds that need to sell stocks to pay off investors who want their money out. These funds are selling "whatever they can," says Stewart Pillette of Pillette Investment Management. Big, blue-chips stocks are often easier to sell than smaller ones, so they are getting jettisoned to raise cash. Coincidentally, today also marked the six-year anniversary of the end of the last bear market.
During that bear market, which ended Oct. 9, 2002, the Dow fell 38 percent, the S&P 500 lost almost 50 percent and the Nasdaq composite tumbled 78 percent. Since the current bear market started a year ago, the Dow has lost 39 percent, the S&P is off 42 percent and the Nasdaq is down 41 percent. All three indexes, however, are still above where they were when the last bear market ended. After treading in positive turf for part of the session, the Nasdaq Composite Index (RIXF) lapsed into the red, ending down 95.21 points at 1,645.12. Volume on the New York Stock Exchange topped 2 billion, and declining stocks outran those advancing 10 to 1. On the Nasdaq, nearly 1.4 billion shares traded, with decliners surpassing advancers nearly 5 to 1. In commodities trade, gold fell, with the contract for December delivery dropping $20 to end at $886.50 an ounce on the New York Mercantile Exchange. .
Oil futures for November delivery fell $2.36 to $86.59 a barrel, its lowest closing level so far this year.
Rate cuts The stock market's continued decline comes one day after the U.S. Federal Reserve, European Central Bank, Bank of England and other central banks made coordinated rate cuts. The moves seemed to make little impact on Wednesday with the Dow industrials dropping 189 points, the Nasdaq Composite falling 14 points and the S&P 500 shedding 11 points. "Despite the poor close, I do think we are finally at the point where the short-term downside risk is minimal. While the upside might take time to develop, recession, earnings and a credit crisis are discounted," said Marc Pado, U.S. market strategist at Miller Tabak. "The market could still go down another 10% or so from here just purely on momentum," according to Paul Nolte, director of investments at Hinsdale Associates. Hear Nolte.
According to a report, the Treasury Department is considering a plan to take ownership stakes in many U.S. banks, both healthy and troubled, the New York Times reported, citing unnamed government officials. Treasury Secretary Henry Paulson said in a speech Wednesday that he has the authority to do so under the $700 billion bailout plan. Britain on Wednesday announced a similar plan, though no U.K. bank as yet has taken government cash. "If Paulson heeds the advice of [U.K. Prime Minister Gordon] Brown and [ Chancellor Alistair] Darling, the chances that the U.S. economy will be steered away from a deep recession extending through 2009 will be greatly improved," said economists at RDQ Economics. In a related note, the Fed late Wednesday said it's going to lend $37.8 billion in additional cash to American International Group Inc. (AIG) for domestic life insurance subsidiaries in return for investment grade fixed-income securities. Stock futures had held an early advance after the Labor Department reported a decline in weekly jobless claims, which fell by 20,000 to 478,000 last week. . Overseas, Iceland nationalized its largest bank, Kaupthing, as a financial crisis deepened, meaning all three of its key banks are now under government control. In Russia, equities rebounded after tumbling earlier in the week, with oil and gas shares leading the rally and forcing Moscow's stock exchanges to suspend trading once again. A stock rally in London proved short lived, with the FTSE 100 index falling 1.2%. . In Asia, markets ended mixed after a volatile session.

Obama’s Impending Pearl Harbor : NO QUARTER
Obama’s Impending Pearl Harbor. By Larry Johnson close Author: Larry Johnson Name: Larry Johnson Email: larry_johnson@earthlink.net Site: http://NoQuarterUSA.net
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Pearl City Jobs (HI) | SimplyHired
Pearl City is located along the north shore of Pearl Harbor ... In USD as of Oct 7, 2008 ... Less than 9th grade: 6% 9th to 12th grade, no diploma: 7%
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Ain't It Cool News: The best in movie, TV, DVD, and comic book news.
... own credibility, stop comparing Pearl Harbor, Episode II or anything else to Titanic on a financial ... by query: May 9th, 2001 01:09:54 AM ... DVD Picks & Peeks - 1st week of Oct ...
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Oct 2, 5:44 PM EDT
... protracted economic downturn washed over the financial ... That would be the ninth straight month that the economy ... said the U.S. has been hit with an "economic Pearl Harbor," and ...
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National, Regional Retirement Experts Highlight Oct. 1-3 Myrtle Beach ...
... Association will host its 9th Annual Business Conference on Oct. 1 -3 ... on fears of US-led slowdown AP; Financial ... Crisis is 'an economic Pearl Harbor' Charlie Rose - Thu Oct 2, 9:11 ...
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October September August July June May April March February January ...
9-Oct-2008 ... Didn’t think so. Prospect Park Bandshell , 9th St. (at Prospect Park West), 718 ... which occurred last night at The Someday Lounge in the hipster enclave, The Pearl ...
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Source: Nypress.com
NewsDateTime: 13 hours ago

Obama About to Be Hit on Questionable Associates
Rezko's sentencing is scheduled for Oct. 28. The conservative Judicial Confirmation Network is running a TV ad tying Obama ... He chose as one of his first financial backers a slumlord now convicted on 16 counts of corruption. Obama chose as an associate ...
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Source: ABC News Blogs
NewsDateTime: 10/4/2008

RFID Anti-Skimming Laws Approved
... on $30,000 bail in Canada where he was arrested last month on suspicion of hacking into computers belonging to a financial ... In a U.S. 9th Circuit precedent, the court regarded both read and unread e-mail, or received and unreceived e-mail, as ...
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Source: Wired
NewsDateTime: 10/3/2008

Public comment sought on city rate increase
He also intends to disseminate an annual financial statement to the public to show exactly what the financial ... During WWII he was called to active duty after Pearl Harbor and captained a couple minesweepers including the SS Strategy ...
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Source: Modoc County Record
NewsDateTime: 8/28/2008

Book: 911 Commission Executive Director Had Closer White House Ties ...
... he had with Zelikow in Charlottesville, Virginia, on Oct ... The PNAC Plan for a New Pearl Harbor became reality. All subsequent ... the World Trade Center during the week of September 9th. Other warnings, such as massive insider trading on financial ...
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Source: Common Dreams
NewsDateTime: 8/21/2008


In Russia, equities rebounded after tumbling earlier in the week, with oil and gas shares leading the rally and forcing Moscow's stock exchanges to suspend trading once again. A stock rally in London proved short lived, with the FTSE 100 index falling 1.2%. . In Asia, markets ended mixed after a volatile session.


Videos from YouTube
Title: Stock Market and Monetary System on the verge of collapse
Categories: house,ron,dow,market,tuesday,euro,black,paul,of,moneytary,News,cards,stock,reserve,crash,policy,dollars,federal,fed,nasdaq,

Published on: 1/21/2008 7:48:28 PM
Title: Black Monday: 10-6-08 The Great Financial Market Crash
Categories: 06,Legatus,Bail,Microsoft,Stock,News,Financial,Catholic,Out,October,Monday,Crash,Market,08,Black,10,Wamu,Conspiracy,

Published on: 10/4/2008 11:03:18 PM
Title: Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007
Categories: robert,1987,market,the,News,Fed,stock,central,crash,japan,commentary,bloomberg,news,prechter,banks,analysis,

Published on: 1/22/2008 9:15:33 AM
Title: FINANCIAL TSUNAMI IMMINENT!! The Stock Market Crash of 200?
Categories: aig,paulson,Education,out,market,mac,oil,Bail,bernake,stock,crash,inflation,fannie,trillion,freddie,mae,ben,hank,Government,dollar,

Published on: 9/19/2008 1:17:12 PM
Title: The Beginning of the Big Stock Market Crash of 2009
Categories: real,bad,Shanghai,estate,fin,Shenzhen,mortgage,taipan,News,amberger,debt,crash,China,subprime,news,banks,financial,

Published on: 9/10/2007 12:28:49 PM

The market has crashed and we are trapped inside it

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After treading in positive turf for part of the session, the Nasdaq Composite Index (RIXF) lapsed into the red, ending down 95.21 points at 1,645.12. Volume on the New York Stock Exchange topped 2 billion, and declining stocks outran those advancing 10 to 1. On the Nasdaq, nearly 1.4 billion shares traded, with decliners surpassing advancers nearly 5 to 1. In commodities trade, gold fell, with the contract for December delivery dropping $20 to end at $886.50 an ounce on the New York Mercantile Exchange. . Oil futures for November delivery fell $2.36 to $86.59 a barrel, its lowest closing level so far this year. Rate cuts The stock market's continued decline comes one day after the U.S. Federal Reserve, European Central Bank, Bank of England and other central banks made coordinated rate cuts. The moves seemed to make little impact on Wednesday with the Dow industrials dropping 189 points, the Nasdaq Composite falling 14 points and the S&P 500 shedding 11 points. "Despite the poor close, I do think we are finally at the point where the short-term downside risk is minimal. While the upside might take time to develop, recession, earnings and a credit crisis are discounted," said Marc Pado, U.S. market strategist at Miller Tabak. "The market could still go down another 10% or so from here just purely on momentum," according to Paul Nolte, director of investments at Hinsdale Associates. Hear Nolte. According to a report, the Treasury Department is considering a plan to take ownership stakes in many U.S. banks, both healthy and troubled, the New York Times reported, citing unnamed government officials. Treasury Secretary Henry Paulson said in a speech Wednesday that he has the authority to do so under the $700 billion bailout plan. Britain on Wednesday announced a similar plan, though no U.K. bank as yet has taken government cash. "If Paulson heeds the advice of [U.K. Prime Minister Gordon] Brown and [ Chancellor Alistair] Darling, the chances that the U.S. economy will be steered away from a deep recession extending through 2009 will be greatly improved," said economists at RDQ Economics. In a related note, the Fed late Wednesday said it's going to lend $37.8 billion in additional cash to American International Group Inc. (AIG) for domestic life insurance subsidiaries in return for investment grade fixed-income securities. Stock futures had held an early advance after the Labor Department reported a decline in weekly jobless claims, which fell by 20,000 to 478,000 last week. . Overseas, Iceland nationalized its largest bank, Kaupthing, as a financial crisis deepened, meaning all three of its key banks are now under government control. In Russia, equities rebounded after tumbling earlier in the week, with oil and gas shares leading the rally and forcing Moscow's stock exchanges to suspend trading once again. A stock rally in London proved short lived, with the FTSE 100 index falling 1.2%. . In Asia, markets ended mixed after a volatile session.

We are in the eye of the storm too, Taoiseach ...
Is it over, or are we just in the eye of ... America, the home of the free market, has been ... The Irish market, along with all the world's markets, crashed and then rebounded, but it ...
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Herb Greenberg » Blog Archive » Straight Talk on the Mortgage ...
When I asked him why somebody from inside the industry ... 20-year veteran of the mortgage industry, who has spent ... Either it will be stock market or housing market. We can ...
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US Stock Markets :: The Market Oracle :: Financial Markets Analysis ...
... pace as can be clearly seen in the chart below: the industrial index has crashed ... Leadership stocks and a count of the Very Weak Stocks in the Broad Market. From this data, we ...
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The Housing Bubble Blog » A Real, True Market Taking Care Of Itself
... the glut of homes on the El Paso market has caused prices to slow down.” “‘There’s so much on the market, so we ... the Vietnamese Class A housing market recently crashed in ...
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frontline: betting on the market: Tapes & Transcripts | PBS
Today's market, we believe, is there for us, helping to ... Look, here's the plans inside. This is where we're going to live, in ... in in just the last three years as the market has made ...
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Top Stories (Complete List, up to 1000 Stories)
... on Wexford County 9/23/2008 - Bailout Could Mean Hope For Local Housing Market 9 ... and Wife Duo Broke Into Little Traverse Township Home, Assaulted People Inside 8 ... 2008 - DNA Clears JonBenet Ramsey's Family 7/9/2008 - Deputies Say Thieves Crashed ...
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Source: 9&10 News
NewsDateTime: 10/1/2008

September 2008
So if the stock market is down next year, hello massive deficit. If we add another $250 billion for bank bailouts, we're talking about ... It has a power-law distribution. "We found that eighty per cent of the homeless were in and out really quickly ...
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Source: Meganmcardle.theatlantic.com
NewsDateTime: 9/30/2008

2008 (2150)
► January 16 - January 23 (1) The afternoon plenary session of the FRC Washington Briefing was called Lights, Camera, Values in Action . It included speeches from Dr. Ted Baehr, president of MovieGuide, Brad Moore, president of Hallmark Hall of ...
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Source: Dakota Voice
NewsDateTime: 9/30/2008

Extra! UIdaho Student Found Shot to Death
... really need to know if I am alone with this as my sleep pattern has ... Inside was an absolute mess. It was clear we were far from the first to explore, as graffiti covered many of ... protrudes from a shed after the plane, piloted by Bert Wolf, crashed ...
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Source: Spokane Spokesman-Review
NewsDateTime: 9/24/2008

WSJ/NBC Poll: Voters Doubt Palin’s Qualifications to Be President
Wall Street Crisis Campaign 2008 Heard on the Street Market Data Management Health Executive M.B.A. Deals Heard on the Street ... We know he has at least two operations for facial melenoma,a maliginant skin cancer. At his age, 72 (same as mine incidently), I ...
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Source: Wall Street Journal
NewsDateTime: 9/24/2008


In Russia, equities rebounded after tumbling earlier in the week, with oil and gas shares leading the rally and forcing Moscow's stock exchanges to suspend trading once again. A stock rally in London proved short lived, with the FTSE 100 index falling 1.2%. . In Asia, markets ended mixed after a volatile session.


Videos from YouTube
Title: Stock Market and Monetary System on the verge of collapse
Categories: house,ron,dow,market,tuesday,euro,black,paul,of,moneytary,News,cards,stock,reserve,crash,policy,dollars,federal,fed,nasdaq,

Published on: 1/21/2008 7:48:28 PM
Title: Black Monday: 10-6-08 The Great Financial Market Crash
Categories: 06,Legatus,Bail,Microsoft,Stock,News,Financial,Catholic,Out,October,Monday,Crash,Market,08,Black,10,Wamu,Conspiracy,

Published on: 10/4/2008 11:03:18 PM
Title: Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007
Categories: robert,1987,market,the,News,Fed,stock,central,crash,japan,commentary,bloomberg,news,prechter,banks,analysis,

Published on: 1/22/2008 9:15:33 AM
Title: FINANCIAL TSUNAMI IMMINENT!! The Stock Market Crash of 200?
Categories: aig,paulson,Education,out,market,mac,oil,Bail,bernake,stock,crash,inflation,fannie,trillion,freddie,mae,ben,hank,Government,dollar,

Published on: 9/19/2008 1:17:12 PM
Title: The Beginning of the Big Stock Market Crash of 2009
Categories: real,bad,Shanghai,estate,fin,Shenzhen,mortgage,taipan,News,amberger,debt,crash,China,subprime,news,banks,financial,

Published on: 9/10/2007 12:28:49 PM

The great crash of 2008

A cocoa-touch. Production

Title The great crash of 2008 published to cocoa-touch.

Report sent to cocoa-touch. about The great crash of 2008
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The world’s central banks tried to jump-start investors’ confidence today with coordinated interest rate cuts. On Wall Street, it looked like the move was doing the trick late in the day -- until the final 30 minutes of trading. The Dow Jones industrials had been up as much as 150 points going into the final half hour, then abruptly gave it all up and closed down 189.01 points, or 2%, to 9,258.10. Broader indexes also lost between 1% and 2%. It was the market's sixth straight loss, and left the Dow off 34.6% from its record high reached a year ago this week. Still, the action today was dramatically improved from the previous two sessions. The Dow was off 370 points Monday and 508 points Tuesday.
And Wall Street fared much better than Europe, where most market indexes plunged between 5% and 7% today despite the rate cut announcement. On the New York Stock Exchange, 749 stocks rose and 2,457 fell. That’s lousy, except when compared with Tuesday’s sell-off, when just 387 issues rose while 2,879 fell. On Monday, a mere 248 stocks were up. Some stocks today sparked genuine enthusiasm: Agricultural products giant Monsanto Co. reported a fiscal fourth-quarter loss, which was expected (it’s a seasonal issue). But the company said it expected fiscal 2009 earnings to be up 15% to 20% and that its farmer customers weren’t reporting trouble getting credit. Monsanto’s shares surged $7.26, or 9.8%, to $81.44. Among blue chips, battered General Electric Co. sank as low as $19.90 but finished at $20.65, up 35 cents. The overnight rate the company was offering on commercial paper was 1.25%, down from 1.90% on Tuesday, Bloomberg News reported. That hinted at some improvement in the credit markets. But other key short-term rates continued to climb, despite the central banks’ rate cuts. The three-month dollar Libor loan rate (short for London interbank offered rate) rose to 4.52% from 4.32% on Tuesday. If there’s to be a noticeable turn in confidence, "We’ll see it first in the credit markets and then in the equity markets," said Marshall Front, chairman of money manager Front Barnett Associates in Chicago. One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week. Meanwhile, oil prices looked for direction as traders weighed fears that a world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far. Light, sweet crude rose 14 cents to $89.09 per barrel on the New York Mercantile Exchange. Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 386.7 million shares. The Russell 2000 index of smaller companies fell 6.77, or 1.24 percent, to 539.80. In Asia, Japan's Nikkei 225 closed down 0.50 percent while the Hang Seng added 3.31 percent. In afternoon trading, European bourses advanced, with Britain's FTSE-100 up 1.65 percent, Germany's DAX up 0.86 percent, and France's CAC-40 up 0.34 percent. On the Net: * New York Stock Exchange: http://www.nyse.com * Nasdaq Stock Market: http://www.nasdaq.com

London Stock Exchange trading derailed by computer crash on frenzied ...
Trading on the London Stock Exchange has been halted after a computer fault. ... Alongside the rally in the FTSE 100 and in stock markets in Germany, France, and Italy ...
more ...
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Stock market has crashed; major mortgage companies have filed for ...
Bush says if you can look beyond this, our economy… ... Stock market has crashed; major mortgage companies have filed for bankruptcy...?
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rediff.com: Why did the stock market crash?
B lack Monday saw bloodbath on Dalal Street as the Indian stock markets crashed by over 1430 points in afternoon trade (the market has since then recovered somewhat), reminding ...
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The rouble has tumbled, the stock market has crashed, and investors ...
Moscow caught in a bear hug ... The rouble has tumbled, the stock market has crashed, and investors have pulled $25bn
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^DJI: Basic Chart for Dow Jones Industrial Average - Yahoo! Finance
Customize the date range from 1 day, 5-day, 1-month, 3-month, 5-month or more. Perform chart performance comparison with other stocks or market indices.
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Financial crisis brings global cooperation as everyone scrambles
Russia's stock market has crashed and shut down at least until Friday, an event that ordinarily would prompt front-page headlines by itself. Now it's a footnote in the wider emergency. All this explains yesterday's belated attempt by world authorities ...
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Source: Baltimore Sun
NewsDateTime: 4 hours ago

Fear Trumps Greed as Market Woes Paralyze Economies (Update1)
The fear that has frozen credit markets means Ellen Logan can't sell her Chicago-area condominium. In Los Angeles ... quick end to the crisis, says 94-year-old Seth Glickenhaus , who was a messenger at Salomon Brothers when the stock market crashed on ...
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Source: Bloomberg
NewsDateTime: 6 hours ago

Government Made the Mess
As for the stock market crash fear, it crashed in 1974 and 1987, and there was not any Great Depression ... None of this has ever really been explained. When pressed, they go back to stock phrases, referring to "systemic risk" that really mean one ...
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Source: Street.Com
NewsDateTime: 10/3/2008

Retirement advocacy group supports Liberal proposal to change RRIF ...
But pensioners have lost significant value in their retirement portfolios as the stock markets have crashed. The Toronto Stock Exchange has ... CARP has been on the record suggesting that they do this permanently, not just in a market downturn," said ...
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Source: 680 News
NewsDateTime: 41 minutes ago

Congressman Jim Moran's News Commentary
... came into my office and those of my colleagues--so many that House websites crashed ... Small businesses are being refused the necessary short term credit to stock the ... As of this writing, the Federal Reserve has taken some of the funding in the ...
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Source: Falls Church News-Press
NewsDateTime: 5 hours ago


One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week. Tonight's town hall style debate is moderated by Tom Brokaw of NBC News. Brokaw will ask six or seven of the more than 6 million questions submitted over the Internet.


Videos from YouTube
Title: Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007
Categories: robert,1987,market,the,News,Fed,stock,central,crash,japan,commentary,bloomberg,news,prechter,banks,analysis,

Published on: 1/22/2008 9:15:33 AM
Title: Wall Street Crash!
Categories: taxes,jp,wall,us,lehman,brothers,washington,lynch,mutual,News,street,merrill,bullriding,buyout,government,morgan,dollar,

Published on: 9/26/2008 10:04:37 AM
Title: The Wall Street Crash
Categories: Education,Wall,Street,Crash,history,GCSE,

Published on: 11/30/2007 7:17:29 AM
Title: FINANCIAL TSUNAMI IMMINENT!! The Stock Market Crash of 200?
Categories: aig,paulson,Education,out,market,mac,oil,Bail,bernake,stock,crash,inflation,fannie,trillion,freddie,mae,ben,hank,Government,dollar,

Published on: 9/19/2008 1:17:12 PM
Title: Stock Market Crash
Categories: stock,crash,moneymattersnetwork,market,Howto,rcrn,davidnharper,

Published on: 9/27/2008 3:02:40 PM

The stock market has crashed

A cocoa-touch. Production

Title The stock market has crashed published to cocoa-touch.

Report sent to cocoa-touch. about The stock market has crashed
This article is located at cocoa-touch.
The world’s central banks tried to jump-start investors’ confidence today with coordinated interest rate cuts. On Wall Street, it looked like the move was doing the trick late in the day -- until the final 30 minutes of trading. The Dow Jones industrials had been up as much as 150 points going into the final half hour, then abruptly gave it all up and closed down 189.01 points, or 2%, to 9,258.10. Broader indexes also lost between 1% and 2%. It was the market's sixth straight loss, and left the Dow off 34.6% from its record high reached a year ago this week. Still, the action today was dramatically improved from the previous two sessions. The Dow was off 370 points Monday and 508 points Tuesday.
And Wall Street fared much better than Europe, where most market indexes plunged between 5% and 7% today despite the rate cut announcement. On the New York Stock Exchange, 749 stocks rose and 2,457 fell. That’s lousy, except when compared with Tuesday’s sell-off, when just 387 issues rose while 2,879 fell. On Monday, a mere 248 stocks were up. Some stocks today sparked genuine enthusiasm: Agricultural products giant Monsanto Co. reported a fiscal fourth-quarter loss, which was expected (it’s a seasonal issue). But the company said it expected fiscal 2009 earnings to be up 15% to 20% and that its farmer customers weren’t reporting trouble getting credit. Monsanto’s shares surged $7.26, or 9.8%, to $81.44. Among blue chips, battered General Electric Co. sank as low as $19.90 but finished at $20.65, up 35 cents. The overnight rate the company was offering on commercial paper was 1.25%, down from 1.90% on Tuesday, Bloomberg News reported. That hinted at some improvement in the credit markets. But other key short-term rates continued to climb, despite the central banks’ rate cuts. The three-month dollar Libor loan rate (short for London interbank offered rate) rose to 4.52% from 4.32% on Tuesday. If there’s to be a noticeable turn in confidence, "We’ll see it first in the credit markets and then in the equity markets," said Marshall Front, chairman of money manager Front Barnett Associates in Chicago. One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week. Meanwhile, oil prices looked for direction as traders weighed fears that a world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far. Light, sweet crude rose 14 cents to $89.09 per barrel on the New York Mercantile Exchange. Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 386.7 million shares. The Russell 2000 index of smaller companies fell 6.77, or 1.24 percent, to 539.80. In Asia, Japan's Nikkei 225 closed down 0.50 percent while the Hang Seng added 3.31 percent. In afternoon trading, European bourses advanced, with Britain's FTSE-100 up 1.65 percent, Germany's DAX up 0.86 percent, and France's CAC-40 up 0.34 percent. On the Net: * New York Stock Exchange: http://www.nyse.com * Nasdaq Stock Market: http://www.nasdaq.com

London Stock Exchange trading derailed by computer crash on frenzied ...
Trading on the London Stock Exchange has been halted after a computer fault. ... Alongside the rally in the FTSE 100 and in stock markets in Germany, France, and Italy ...
more ...
go to website

Stock market has crashed; major mortgage companies have filed for ...
Bush says if you can look beyond this, our economy… ... Stock market has crashed; major mortgage companies have filed for bankruptcy...?
more ...
go to website
Cached

rediff.com: Why did the stock market crash?
B lack Monday saw bloodbath on Dalal Street as the Indian stock markets crashed by over 1430 points in afternoon trade (the market has since then recovered somewhat), reminding ...
more ...
go to website
Cached

The rouble has tumbled, the stock market has crashed, and investors ...
Moscow caught in a bear hug ... The rouble has tumbled, the stock market has crashed, and investors have pulled $25bn
more ...
go to website

^DJI: Basic Chart for Dow Jones Industrial Average - Yahoo! Finance
Customize the date range from 1 day, 5-day, 1-month, 3-month, 5-month or more. Perform chart performance comparison with other stocks or market indices.
more ...
go to website
Cached



Financial crisis brings global cooperation as everyone scrambles
Russia's stock market has crashed and shut down at least until Friday, an event that ordinarily would prompt front-page headlines by itself. Now it's a footnote in the wider emergency. All this explains yesterday's belated attempt by world authorities ...
more ...
go to website
Source: Baltimore Sun
NewsDateTime: 4 hours ago

Party Like It's 1929!
When the stock market crashed in 1929, most Americans saw the value of their investments evaporate overnight, and then watched ... Shanty towns sprung up all over the country when people lost their homes and farms to foreclosure in what has been ...
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Source: Huffingtonpost.com
NewsDateTime: 3 hours ago

Uncle Sam: The Owner Of Last Resort
By my reckoning, Uncle Sam has already sunk in excess of $2 trillion through ... The housing market crashed, banks went under and now the government is here to save the ... Between 1929 and 1932, the stock market lost 90% of its value. A third of the nation ...
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Source: Forbes
NewsDateTime: 5 hours ago

Bear Markets Take No Prisoners
... just sold preferred stock issues that yield their Berkshire Hathaway (nyse: ... You are left with modest risk on top of what already has bloodied us. Actually ... The housing market crashed, banks went under and now the government is here to save the day
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Source: Forbes
NewsDateTime: 5 hours ago

Government Made the Mess
As for the stock market crash fear, it crashed in 1974 and 1987, and there was not any Great Depression ... None of this has ever really been explained. When pressed, they go back to stock phrases, referring to "systemic risk" that really mean one ...
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Source: Street.Com
NewsDateTime: 10/3/2008


One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week. Tonight's town hall style debate is moderated by Tom Brokaw of NBC News. Brokaw will ask six or seven of the more than 6 million questions submitted over the Internet.


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