What's happening? DJIA is collapsing in the final minutes before the close...

[scheming daemons]

Went from -250 to -380 in the past half hour.... WTF????????

[katty]

1. not good and will fall more tomorrow

[CitizenPatriot]

2. i have no idea

but I feel sick.

[billyoc]

3. Widespread panic on rumors of executive pay limits, no doubt.

[Orrex]

6. Quick! Give the CEOs *THREE* trillion, before it's too late!

:rofl:

[Skink]

4. Good time to Buy.

[CJCRANE]

7. I wish I was a day trader.

Just seeing my own company's share price collapse then rocket again (in the last few weeks) has been a real eye-opener.

[Orrex]

9. I hear that Lehman's selling cheap

In fact, I think they'll give you a dime for each share you buy.


(Just kidding--The Corpse of Lehman Brothers will not, in fact, give you a dime per share purchased.)

[Eurobabe]

10. LOL. Sick

But it's always what a good broker says.

Mr. Jones, take your balls, but them in your desk drawer, now slam it.

Hurts doesn't it. That is NOTHING compared to the pain you are going to feel if you don't buy this stock NOW at this price.

[gratuitous]

5. My guess

They're not going to get that blank check from all us taxpayers that Henry Paulson promised them they'd get. Seems we actually wanted to know what we were buying for $700 billion, and Paulson didn't have a ready answer.

[knowbody0]

11. yep

[Hell Hath No Fury]

13. Bingo.

[anigbrowl]

16. Yeah. Market noting that the plan as laid out so far is a panic measure, not a strategy.

It's not about limiting pay or this or that. What markets hate is uncertainty. They would go up even if the proposed plan were severe to Wall st but there was widespread agreement about the terms.

[skipos]

8. Since 1901, the stock market has performed significantly better under Dem presidents

I am mostly in cash, waiting to see what happens in Nov.

Forbes has some ratings of economic prosperity that verify this.
Democratic presidents historically yield better economies

"Not surprisingly, Bill Clinton tops the magazine's prosperity chart. He is followed by two other Democrats – Johnson and Kennedy. The first Republican to show up is Reagan, who comes in fourth. No Democrat finishes lower than seventh (Truman), and the last three spots are all occupied by Republicans (Nixon, Eisenhower and George H.W. Bush). On a scale of one to eleven (one being Bill Clinton, eleven being the elder Bush), Democrats have an average ranking of 3.8, Republicans of 7.8."

http://www.americanprogressaction.org/site/pp.asp?c=klLWJcP7H&b=131769

That probably explains why democrats are better for the stock market too.

DOW SINCE 1901
Republican years Avg. annual change 6.9%
Democratic years Avg. annual change 13.3%
Source: Stock Trader's Almanac 2005

http://www.usatoday.com/money/perfi/columnist/krantz/2005-12-02-presidents_x.htm

This link is old, but the market has been pretty flat since it was written.

[ladjf]

12. If it's going to collapse, a trillion dollars from our Treasury would

only have slowed it while reducing the value of the dollar to near zero.

The "bailout" cannot succeed. The results either way are going to be very bad. At least with the non-bailout route, we would still have the "bailout" trillions and the dollar might still retain some or most of it's value reletive to other currencies.

[louis-t]

17. Your post sums up situation nicely.

It's what I've been saying for months. Delaying the inevitable.

[lpbk2713]

14. Word has leaked out ....

... BushCo can't wait till January. They're packing up
for Paraguay right now. And it's causing a panic.

[TomClash]

15. No deal yet

Everyone is worried.