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  • October 2, 2008 at 12:11 PM #14047
    coxapple
    Participant

    http://calculatedrisk.blogspot.com/2008/10/credit-stress.html

    “The credit window is closed.”
    Jim Press, president of Chrysler LLC
    The TED spread is at a record 3.62.

    And from Bloomberg: Libor Soars, Commercial Paper Slumps as Credit Freeze Deepens
    The Libor- OIS spread, the difference between the three-month dollar rate and the overnight indexed swap rate, widened to a record 260 basis points today. It was 197 basis points a week ago and 79 basis points a month ago.
    …
    The market for commercial paper plummeted $94.9 billion to $1.6 trillion for the week ended Oct. 1 as banks and insurers were unable to find buyers for the short-term debt …
    The NY Times quoted Chairman Bernanke as saying on Friday, Sept 19th:
    “If we don’t do this, we may not have an economy on Monday.”
    Well, we still have an economy, but it is clearly in tatters …

    October 2, 2008 at 12:25 PM #279501
    stockstradr
    Participant

    This morning with markets down 3%, I went 2X LONG, buying the Ultra ProShares on S&P500 and NASDAQ, with 1/3 of my portfolio.

    So far, I’m losing money on that bet as markets continue to trend down.

    I’m hoping for a Fed rate cut and a House vote YES on the bail out…sending the markets up in Fool’s Rally

    October 2, 2008 at 12:25 PM #279831
    stockstradr
    Participant

    This morning with markets down 3%, I went 2X LONG, buying the Ultra ProShares on S&P500 and NASDAQ, with 1/3 of my portfolio.

    So far, I’m losing money on that bet as markets continue to trend down.

    I’m hoping for a Fed rate cut and a House vote YES on the bail out…sending the markets up in Fool’s Rally

    October 2, 2008 at 12:25 PM #279819
    stockstradr
    Participant

    This morning with markets down 3%, I went 2X LONG, buying the Ultra ProShares on S&P500 and NASDAQ, with 1/3 of my portfolio.

    So far, I’m losing money on that bet as markets continue to trend down.

    I’m hoping for a Fed rate cut and a House vote YES on the bail out…sending the markets up in Fool’s Rally

    October 2, 2008 at 12:25 PM #279778
    stockstradr
    Participant

    This morning with markets down 3%, I went 2X LONG, buying the Ultra ProShares on S&P500 and NASDAQ, with 1/3 of my portfolio.

    So far, I’m losing money on that bet as markets continue to trend down.

    I’m hoping for a Fed rate cut and a House vote YES on the bail out…sending the markets up in Fool’s Rally

    October 2, 2008 at 12:25 PM #279771
    stockstradr
    Participant

    This morning with markets down 3%, I went 2X LONG, buying the Ultra ProShares on S&P500 and NASDAQ, with 1/3 of my portfolio.

    So far, I’m losing money on that bet as markets continue to trend down.

    I’m hoping for a Fed rate cut and a House vote YES on the bail out…sending the markets up in Fool’s Rally

    October 2, 2008 at 12:31 PM #279840
    kewp
    Participant

    Can someone explain to me why we can’t create a system where the Fed loans directly to businesses and consumers?

    The fundamental problem I think is that we have a government institution setting interest rates and then market forces running around trying to play catch-up.

    Either the market should set interest rates or the government should socialize the entire credit process.

    October 2, 2008 at 12:31 PM #279781
    kewp
    Participant

    Can someone explain to me why we can’t create a system where the Fed loans directly to businesses and consumers?

    The fundamental problem I think is that we have a government institution setting interest rates and then market forces running around trying to play catch-up.

    Either the market should set interest rates or the government should socialize the entire credit process.

    October 2, 2008 at 12:31 PM #279788
    kewp
    Participant

    Can someone explain to me why we can’t create a system where the Fed loans directly to businesses and consumers?

    The fundamental problem I think is that we have a government institution setting interest rates and then market forces running around trying to play catch-up.

    Either the market should set interest rates or the government should socialize the entire credit process.

    October 2, 2008 at 12:31 PM #279510
    kewp
    Participant

    Can someone explain to me why we can’t create a system where the Fed loans directly to businesses and consumers?

    The fundamental problem I think is that we have a government institution setting interest rates and then market forces running around trying to play catch-up.

    Either the market should set interest rates or the government should socialize the entire credit process.

    October 2, 2008 at 12:31 PM #279829
    kewp
    Participant

    Can someone explain to me why we can’t create a system where the Fed loans directly to businesses and consumers?

    The fundamental problem I think is that we have a government institution setting interest rates and then market forces running around trying to play catch-up.

    Either the market should set interest rates or the government should socialize the entire credit process.

    October 2, 2008 at 12:36 PM #279852
    Arraya
    Participant

    I’m going long pitchforks and torches, short bastilles of power…

    October 2, 2008 at 12:36 PM #279839
    Arraya
    Participant

    I’m going long pitchforks and torches, short bastilles of power…

    October 2, 2008 at 12:36 PM #279791
    Arraya
    Participant

    I’m going long pitchforks and torches, short bastilles of power…

    October 2, 2008 at 12:36 PM #279798
    Arraya
    Participant

    I’m going long pitchforks and torches, short bastilles of power…

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