Yesterday the Dow lost 777 points, the House of Representatives rejected the $700 billion bailout package and the S&P lost $700 billion of its value.
Sounds like “unlucky” number 7, right?
Yesterday’s sell-off was an overreaction and yesterday I mentioned this would be a good opportunity to buy some undervalued stocks. Well, the bargain-hunters just couldn’t resist, the Dow, Nasdaq […]
Quick update: The House of Representatives has rejected the $700 billion bailout package proposed by the Bush Administration.
According to MarketWatch the final tally was 205 yea, 228 nay.
Back to the drawing board…
Tough times are ahead, but the market will come back and although this time is chaotic, it could be a great time for bargain hunters.
Tags: bailout, […]
The Dow lost as much as 700 points as the markets awaited a decision from Congress on the $700 billion bailout package proposed by the Bush administration.
The bill, which began as a three page document, grew to about 110 pages inside of one week. Rightfully so, it would take a lot more than three pages to sell me […]
Is it me or it does it seem as if J.P. Morgan Chase is the Fed’s rescuer of choice for all bank failures? ;)
Washington Mutual finally caved in. Company reps have adamantly denied rumors of insolvency for quite some time but, the jig is up. Maybe the bank would have survived if customers had not withdrawn over […]
I have been watching Fannie Mae and Freddie Mac for quite sometime. Last night, I saw a clip of Jim Cramer talking about the recent rise in these two stocks and he was pretty skeptical. Understandably so.The short sale ban has aided them tremendously, but both stocks have seen a meteoric rise in the past […]
Senator John McCain announced this afternoon that he is suspending his presidential campaign to help Washington fix the U.S. financial markets.
McCain stressed the importance of resolving the bailout plan before next week and has asked Senator Barack Obama to follow in his footsteps.
McCain also wants to postpone Friday night’s highly anticipated debate since both candidates’ […]
Warren Buffett, through his firm Berkshire Hathaway, has decided to invest up to $10 billion in Goldman Sachs.
Mr. Buffett, who has said before that his favorite holding period is “forever,” is sticking to this motto by purchasing $5 billion in GS’s perpetual preferred stock. The perpetual feature just means the shares have no redemption date, so they could be […]
Today, the Senate Banking Committee heard Ben Bernanke and Hank Paulson urge the quick passing of a $700 billion bailout to stabilize U.S. financial markets.
Paulson, the bailout’s author, wants Congress to act swiftly and avoid making any changes to his plan that would delay its implementation. Time is of the essence and he wants this passed by the end of the week.
Well, if […]
Last night, Goldman Sachs and Morgan Stanley dropped their investment bank status to convert to bank holding companies.
The conversion will allow them to access emergency funding from the Federal Reserve and replaces their regulatory body, the SEC, with the Federal Reserve. As such, both banks will be subject to more strict regulation and capital requirements.
The Fed has already extended resources typically […]
I wish this price move had been as predictable as the company’s bankruptcy!
Over 226 million shares of Lehman Brothers were traded on Friday, sending the stock up over 313 percent.
When your starting price is only $0.06, your company is uber risky and ineligible for short sales, I guess this type of return is not hard […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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