Monthly Archives: October 2008
Weapons of Financial Mass Destruction
The people who recognized the high likelihood of defaults were able to profit from that likelihood – First , they could sell the mortgage securities short – a straightforward wager that has long been available. Second , they could buy … Continue reading
Carmageddon Detroit Doomsday US Auto Death Watch
The recent Free-Fall Stock Plunge has put Both Ford & GM on DEATH WATCH. I suppose they’ll be handed over on silver platters to JPMorgan too. How about RothschildGM , CentralBankChrysler or RockefellerFord ? The CEO of Chrysler Fears the Collapse … Continue reading
The Iraqi People Have Spoken Get Out Occupier
40,000 or more followers of Shiite cleric Muqtada al-Sadr rolled on Baghdad Saturday in a mass public demonstration and Protest to Extending the UN Mandate allowing US led Military Forces in Iraq. USA and Iraqi leaders face a Dec. 31 … Continue reading
Oil Prices Roller Coaster Ride by the Powers That Be
Oil prices have dropped sharply in recent weeks with the economic crisis and lower consumption in developed nations. In New York , oil futures fell 8% to $68.57 a barrel Thursday – their lowest level since June 2007. It did move back up … Continue reading
Dow Down 733 Points after Fed Reports RECESSION
The Dow had its Second Worst Daily Drop Ever on Wednesday , giving back 733 of the 936 points it had gained on Mondays Sucker Rally. The Federal Reserves Economic Forecast from their Beige Report released today: RECESSION , shaky … Continue reading
Dow Down 766 Points GM near BK per Jim Cramer
Recession news had the Dow dropping another 766 points, the second-largest point loss ever. This wiped out almost all of Mondays Sucker Rally of 936 points, the greatest one-day rise ever. Mad Money Jim Cramer has stated that GM is almost certain … Continue reading
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Suckers Rally – Dow Up 936 Points Monday
Coming off its worst weekly loss on record , the DJIA on Monday had it’s Largest Ever One Day Rise [ Up an Astounding Record 936 points] easily crushing the previous daily record of 499 points. These are Interesting Volatile Times … Continue reading
Wells Fargo Co Takes Over Wachovia $12.2 BILLION
The Federal Reserves Board of Governors unanimously approved Wells Fargo & Co $12.2 billion USD takeover of Wachovia Corp. After the 5 day waiting period to complete the acquisition , Wells Fargo will then have the largest U.S. bank branch network. Like JPMorgan … Continue reading