Tuesday, September 30, 2008

Stocks catch a bid

Eric Mangini, the Jets coach, summing up the Jets 56-35 victory over the Cards said "There were a lot of points scored in a short amount of time," said Mangini. "I like them when they're ours and don't like them when they're theirs."

Yesterday the market fell apart. It reminded me of the Jet game Sunday, when Favre, thought the Cards jumped offsides, and threw an interception, thinking it was a free play. I had to turn the TV off, only to turn it back on a few minutes later.

It was a great game, and Favre had a career high 6 TD's. That's like this market. You have to stay in the game. And just when you are ready to give up, it becomes fun again!

Now we hear that the FDIC is going to expand insurance. What took them so long? Did they see what Ireland did?

DUBLIN (Dow Jones)--The Irish government Tuesday announced a surprise decision to safeguard the Irish banking system for two years, guaranteeing all deposits, covered bonds, senior debt and dated subordinated debt of the four main banks.

"It has done so following advice from the governor of the central bank and the financial regulator about the impact of the recent international market turmoil on the Irish banking system," the government said in a statement...

The guarantee runs from midnight on Sept. 29, 2008, and expires at midnight on Sept. 28, 2010, and follows the decision last week by the government to guarantee deposits in Irish banks up to EUR100,000.

The government said it aims "to remove any uncertainty" and "maintain financial stability for the benefit of depositors and businesses and is in the best interests of the Irish economy."

With the U.S. Congress rejecting the planned $700 billion bailout of financial institutions there late Monday, Davy Research analyst Scott Rankin said: "The Irish government has taken out its bazooka."

Now that's a bazooka!

There was also rumblings of an emergency ECB cut in rates, and the market's new savior-the abandonment of mark-to-market accounting! Oh that will really help! Make the entire banking system Level 3! Do these political hacks think they can fool Wall Street? Now we'll have banks marking up their assets like the hedge funds. Anyone wonder why we had such liquidation pressure?

But they'll dress up the mark-to-model so it won't look like the mark-iup that it is, so this rally should have some legs. The TARP can work in a rainstorm but not in a hurricane.

But it looks like we already had that!


Anonymous said...

Looking for a unique (even experimental) system for forex and currency fx trading that works seamlessly with Metatrader 4. Interested in your own recommendations and tools that work at the beginner / intermediate level.
[url=http://forexrobot-review.info]click here[/url]

Anonymous said...

http://smokefreearizona.us/anti-depressantanti-anxiety/ego-plant-herb-vitamin-supplement.html ego plant herb vitamin supplement muscle spasms vitamin deficiencies custom made vitamin dna natural vitamin watchdog [url=http://smokefreearizona.us/female-enhancement/Wx01B.html]folic acid autism[/url] http://smokefreearizona.us/erectile-dysfunction/381.html calcium d oyster shell vitamin vitamin d content of barley dog nitrofurantoin help herbal memory to vitamin with [url=http://smokefreearizona.us/hypnotherapy/airport-carry-on-restrictions-vitamins.html]airport carry-on restrictions vitamins[/url] http://smokefreearizona.us/body-building/465.html co q-10 vitamin chemical name for vitamin e dog eats echinacea leaves cobalt vitamin b12 [url=http://smokefreearizona.us/female-enhancement/72.html]drug reminyl[/url] http://smokefreearizona.us/hypnotherapy/416.html cyklokapron approval side effects of excess vitamin b bio-tech pharmacal inc vitamin d vitamins and minerals for healthy nails [url=http://smokefreearizona.us/hypnotherapy/antivert-and-darvocet.html]antivert and darvocet[/url] http://smokefreearizona.us/erectile-dysfunction/does-medrol-affect-synthroid-dosage.html does medrol affect synthroid dosage prenate vitamins with omega 3 bonine meclizine cure psoriasis with vitamins [url=http://smokefreearizona.us/female-enhancement/464.html]canadian wholesale vitamins[/url] http://smokefreearizona.us/hypnotherapy/zznOjGDI5c.html building block vitamins gastric bypass keppra for migraine headaches diamox and slt purim art [url=http://smokefreearizona.us/female-enhancement/112.html]dr don colbert vitamins[/url] http://smokefreearizona.us/skin-care/50.html find weight and alpha lipoic acid natural health vitamin detrol la competitor buy american ginseng in new york [url=http://smokefreearizona.us/patches-new/15.html]acai berry good for arithmic[/url] http://smokefreearizona.us/skin-care/echinacea-purpurea-wikipedia.html echinacea purpurea wikipedia how to get off of topamax folic acid molecular weight vitamin discount cente [url=http://smokefreearizona.us/anti-depressantanti-anxiety/218.html]benefits of b 12 vitamin[/url] http://smokefreearizona.us/male-enhancement/538.html acai berry mother earth warehouse daily requirements for vitamins antioxidant vitamins minerals life zone prednisone dosing in dogs with bronchitis [url=http://smokefreearizona.us/patches-new/XxzobJjDh.html]discount vitamin west midlands[/url] http://smokefreearizona.us/hypnotherapy/extract-and-vitamins-for-dizziness.html extract and vitamins for dizziness dilantin levothyroxine tingling numbness daily dose of vitamin d vitamin mouth strips [url=http://smokefreearizona.us/general-health/complete-multi-vitamin-supplement.html]complete multi vitamin supplement[/url]

Anonymous said...

Hello to every single one, it's in fact a good for me to pay a quick visit this website, it consists of helpful Information.

Stop by my web page: http://gto120dlaocm402mfos02.com