Dow up now. 90+

[dkf]

What a roller coaster ride.

[City Lights]

1. cnbc is reporting that government help for AIG might be on the way. nt

[Owl]

2. Are we borrowing more money from China to toss into this shit-hole?

[City Lights]

7. The story that's being peddled is that poor AIG just needs more time.

Apparently, it's trying to unconglomerate itself by selling off some subsidiaries.

[RoadRage]

5. Great.. Tax Payers get to fund more republican messes..

:eyes:

Note to republicans, don't EVER EVER EVER do this to us again... you'll be sorry.. really.. oh, wait.. never mind, we'll bail you out again.

[City Lights]

13. I'm swapping bumper stickers.

"WORK HARDER, corporations on welfare depend on you" is going back on my car before I leave the garage. :mad:

[Boz]

16. Theyre not going to bail out AIG, they are just floating the balloon, its a Richard Whitney

From wikipedia

At 1 p.m. on Friday, October 25,1929 several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor. The meeting included Thomas W. Lamont, acting head of Morgan Bank; Albert Wiggin, head of the Chase National Bank; and Charles E. Mitchell, president of the National City Bank. They chose Richard Whitney, vice president of the Exchange, to act on their behalf. With the bankers' financial resources behind him, Whitney placed a bid to purchase a large block of shares in U.S. Steel at a price well above the current market. As amazed traders watched, Whitney then placed similar bids on other "blue chip" stocks. This tactic was similar to a tactic that ended the Panic of 1907, and succeeded in halting the slide that day. In this case, however, the respite was only temporary.

......

The slide continued with October 29,1929 being the worst single day,



.....the market lost $14 billion in value that day, bringing the loss for the week to $30 billion, ten times more than the annual budget of the federal government, far more than the U.S. had spent in all of World War I

[kentuck]

17. I heard that AIG is going to "loan" themselves $20 billion.

How do you loan yourself that kind of money??

[City Lights]

19. FWIW, CNBC is saying a private sector solution is definitively dead. nt

[BumRushDaShow]

3. Programmed buying. n/t

[DemocratSinceBirth]

4. Either People

1) Are buying on the dips

2) The market is trying to establish a bottom

3) It's a dead cat bounce

4) Who the Hell knows?


By the time Bush* leaves office the market will be where it was at or lower than when he was inaugurated...This means you would have been better off putting your money in a money market account...

[kurt_cagle]

11. YAB - Yet Another Buyout

Nope - Dept. of the Treasury just buying out the rest of Wall Street in order to have a matched set.

Naked capitalism at its best - banks get all the profit, you get all the debt. Isn't that the way it's SUPPOSED to work?!

[still_one]

6. Fndamentally nothing has changed, we are in a major recession /nt

[fascisthunter]

8. gotta pump the market back up.... perception is everything

:puffpiece:

Rally, rally, rally

[msallied]

9. It's all about trends with the DOW.

And right now, we're in the trough of a giant shithole.

[kentuck]

10. Moving the chairs on the Titanic...

"Violin players, up front!"

[denem]

12. Make that +30 at 11.10

It is very volatile this morning.

[orwell]

14. It's called...

...Turnaround Tuesday.

It's the tendency for the market to make a short term bottom after a big Monday sell-off.

It happens all the time.

[msallied]

15. The best time to buy is right now. Things are at rock-bottom prices!

[cali]

20. I rather doubt that. I think there's further down to go.

[cali]

21. I rather doubt that. I think there's further down to go.

[Ichingcarpenter]

25. When ever the Feds dump $50 billion in it lasts for about 24 hours

it just slows the pain thats coming, the market then drops again the next day.

[MercutioATC]

18. Down 45 again.

[BlueIdaho]

22. Check at the end of the day - these market swings will go on all day long. nt.

[RUMMYisFROSTED]

23. Here's why:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3492123&mesg_id=3492123

[AndyTiedye]

24. Now Down 21