Thursday, Sep 18, 2008
I had to look twice when I read this! - Wish I'd bought RBS and Barclays today as the LSE will crash tomorrow morning.
Bloomberg: U.S. Stocks Rally Most in Six Years on Plan to Shore Up Banks
U.S. stocks rallied the most in six years on prospects the government will formulate a ``permanent'' plan to shore up financial markets, while regulators and pension funds took steps to curb bets against banks and brokerages.
Traders erupted into cheers on the floor of the New York Stock Exchange as the Dow Jones Industrial Average jumped 617 points from its low of the day. The Standard & Poor's 500 Index climbed 4.3 percent as 68 companies in the gauge rose more than 10 percent.
Posted by tyrellcorporation @ 09:53 PM (1420 views) Add Comment
12 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. tyrellcorporation said...
"Schumer urged forming an agency to inject funds into financial companies in exchange for equity stakes and pledges to rewrite mortgages and make them more affordable."
Ummm, isn't this nationalisation in all but name? WTF!!!
2. tyrellcorporation said...
Senator Hillary Clinton of New York, a former candidate for the Democratic nomination for president, proposed resurrecting a 1930s-era agency to stem foreclosures.
``We need a modern day Home Owners' Loan Corporation,'' Clinton said in remarks at the Senate today. ``There will not be any semblance of a normal or orderly market'' without ``quarantining'' the devalued loans outstanding, she said. The HOLC bought up outstanding mortgage and issued new, more affordable loans that helped people stay in their homes, Clinton said.
Are these people mad?
3. enuii said...
Is this a bit of Bloomberg spin and media manipulation at work?
Will it be you've been Bloomberg'd by close friday?
4. jack c said...
Guy's is it just me with skewed thinking on this one or are things coming full circle - by this I mean the USA is operating/proposing/introducing policies that will make it look more and more like the old eastern block countries - GDR springs to mind?
5. whiteknight said...
go on holiday. please go on holiday. pretty please... the the problem is solved.
6. tyrellcorporation said...
As Marc Faber points out the FED/Treasury can essentially print money and so access money for free. They are then (as the plan seems to go) obtaining assets in return for this free money. Is it me or does this seem more than a bit corrupt. If I printed a million pounds in my garage and then went and bought a company with it I'd be banged up?!?
7. Amos said...
tyrellcorporation@6
i'm sure if you explained you were doing it to stabilise the financial markets they'd let you off.
8. Jaffa100 said...
Nothing will work, you can never solve the underlying cause for a falling financial system by regulation. - No use banning the short sellers they are but mere sympotms/products of a deeper malise.
Tommorow, the day after, next week - the destruction will continue of false wealth, we are in a painful (for some) process, which cannot be stopped by any regulation. Govts will bankrupt themselves trying to stop this.
The moving finger writes
and having writ moves on
not all your regulations or wit
shall lure it back to cancel half a line
nor all your tears or interventions wash out a word of it
Using smoke and mirrors to create paper wealth is now a thing of the past.
Money is being sucked out of the system faster than it can be pumped in
All of it was just created - The cash being pumped in and the cash/value that just vanishes.
Real wealth comes from labour applied to raw materials - the creation of goods, food and services
None of this was real wealth - If you search the Internet you will learn Goldman Sach's business contributed greatly to the last depression in the 1930s the cycle has come back to the same point again.
The first of the chickens have come home to roost this is only the bigining, more chickens will pop into the roost week after week.
Todays rally is just a number of rallies you will see in this mother of all bear markets -
9. planning4acrash said...
Jack C, You are totally right. Remember that the Soviet Union was propped up by the USA with grain exports, because their economy was not productive enough to feed its own people. We now see a merging of the soviet and western capitalist system. Soviet means run by committee. And that's pretty much the European Union in a short description. Will be what you will see in a North American Union. It is what you see with private central banks deciding the money supply. What we are seeing is Marxist Capitalism. But, its just another step towards 1984, then Brave New World, for these eugenicist Illuminati scum. For more info on all of that, have a listen to the back catalogs on Allan Watt's podcast.
10. Jaffa100 said...
Change the rules when you feel like it
not allowed to gamble on the market going down
seems now one is only allowed to gamble on it going UP
They banks would not be vunerable to short selling if they had not borrowed so much with so little
Try short selling to destruction Google or microsoft 0r 99% of the stock market it will just not work
Short selling performs a useful purpose, it gets rid of unhealthy carrion, that poisons the system quickly, it help the healing process making for a healthy recovey of a proper financial system.
Becuse of this regulation against short selling the rot will be in our midst for a little while longer
11. titaniccaptain said...
p4ac.......correct the anti christ will be in power very soon
12. jack c said...
@ planning4acrash - thanks for the info - lets see what intervention we get over the coming weekend.