U.S. Monitoring Market Reaction to Blasts

[sabra]

<<SNIP>>
http://www.latimes.com/news/nationworld/politics/wire/sns-ap-explosions-markets,1,7318696.story?coll=sns-ap-politics-headlines

U.S. Monitoring Market Reaction to Blasts
By JEANNINE AVERSA, AP Economics Writer


WASHINGTON -- The Bush administration is keeping close tabs on the world's financial markets in the wake of a series of explosions that rocked London's transit system, Treasury Secretary John Snow said Thursday.

"At the Treasury Department, we are monitoring global markets," Snow said. "I will stay in touch with world financial leaders."

Snow's comments were made during a trip to Omaha, Nebraska, where he was talking to business leaders about the nation's economy and the President Bush's plans to overhaul the Depression-era Social Security retirement system.

The Treasury chief echoed Bush's remarks decrying the "horrific acts" that took place in London.

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[ugarte]

1. Ah, yes, the markets...always their main concern

As long as it's only people dropping...

[skooooo]

7. Isn't that the truth!!

Truly our god is money.

[Delphinus]

10. That's what I said to a friend this morning.

That I was tired of money being the only thing that mattered. I see it everywhere I look - perhaps since I'm not one of the moneyed people.

[yellowcanine]

2. Shouldn't Snow be concentrating on identifying the "money trail" of the

terrorists?

[northzax]

3. the "depression-era Social Security System"?

I guess that makes sense, as long as we remember the Constitution is 'colonial era'

[acmejack]

4. Well, it will be the second depression era soon enough

So perhaps they should leave the depression era programs intact.

[Coventina]

5. WTF does that mean?

What is the Treasury dept. going to do if markets around the world tank because of this?

And did you notice the line "President Bush's plans to overhaul the Depression-era Social Security retirement system."
In other words, outdated system that needs replacing.
Pure propaganda.

[Wright Patman]

6. Grinchscam gives the order to create more trillions

out of thin air.

The central bank lingo for this is "injecting liquidity into the system."

Of course, the housing bubble and $60 oil would seem to indicate we are "awash in liquidity" already.

[amazona]

9. if the market drops a certain amount they have controls

Trading can be completely halted if need be until hysteria passes. Trading was halted for a few days after 911, if you remember. There are also controls that do not halt all trading but which slow down any freefall.

Little Caligula's jab at Social Security at such a time is cheap and trashy and completely inappropriate but what do you expect of a drunk who can't even ride a bike?

[Psyop Samurai]

8. business leaders in Omaha...

.
...any word yet on Warren Buffet's whereabouts?