3rd day of stock losses

[Eugene]

[quote=Butleroftwo]Obama to the bottom
The DOW is down 3261 since the end of the D convention and down 850 since that ONES election. The Capitalist markets aren’t very optimistic about the change in direction. [/quote]

You’re confusing cause & effect.

[UCGal]

I don’t think the market collapse is related to the election. I think it’s related to the fact that the credit derivative scheme has been exposed and the over leveraging has been exposed, and the market is seeking the actual value.

The housing market, we all agree, was falsely inflated by easy credit… Now it’s correcting back to a more sustainable median price.

The same is true of the stock market – it was so out of wack with reality – with goods produced, with tangible value behind the price per share… And now it’s correcting.

So much of the market seemed to be related, by a few degrees of separation, to mortgage backed securities and securitized credit.. Look at AmEx’s statements begging for government money… they weren’t in the mortgage business – but they did bundle the credit debt into securities – and that market has dried up.

I don’t see how the election caused this particular mess… seems like those whiz bangs on wall street, who literally figured out how to make money out of nothing with these derivitives, are more to blame.

[UCGal]

I don’t think the market collapse is related to the election. I think it’s related to the fact that the credit derivative scheme has been exposed and the over leveraging has been exposed, and the market is seeking the actual value.

The housing market, we all agree, was falsely inflated by easy credit… Now it’s correcting back to a more sustainable median price.

The same is true of the stock market – it was so out of wack with reality – with goods produced, with tangible value behind the price per share… And now it’s correcting.

So much of the market seemed to be related, by a few degrees of separation, to mortgage backed securities and securitized credit.. Look at AmEx’s statements begging for government money… they weren’t in the mortgage business – but they did bundle the credit debt into securities – and that market has dried up.

I don’t see how the election caused this particular mess… seems like those whiz bangs on wall street, who literally figured out how to make money out of nothing with these derivitives, are more to blame.

[UCGal]

I don’t think the market collapse is related to the election. I think it’s related to the fact that the credit derivative scheme has been exposed and the over leveraging has been exposed, and the market is seeking the actual value.

The housing market, we all agree, was falsely inflated by easy credit… Now it’s correcting back to a more sustainable median price.

The same is true of the stock market – it was so out of wack with reality – with goods produced, with tangible value behind the price per share… And now it’s correcting.

So much of the market seemed to be related, by a few degrees of separation, to mortgage backed securities and securitized credit.. Look at AmEx’s statements begging for government money… they weren’t in the mortgage business – but they did bundle the credit debt into securities – and that market has dried up.

I don’t see how the election caused this particular mess… seems like those whiz bangs on wall street, who literally figured out how to make money out of nothing with these derivitives, are more to blame.

[UCGal]

I don’t think the market collapse is related to the election. I think it’s related to the fact that the credit derivative scheme has been exposed and the over leveraging has been exposed, and the market is seeking the actual value.

The housing market, we all agree, was falsely inflated by easy credit… Now it’s correcting back to a more sustainable median price.

The same is true of the stock market – it was so out of wack with reality – with goods produced, with tangible value behind the price per share… And now it’s correcting.

So much of the market seemed to be related, by a few degrees of separation, to mortgage backed securities and securitized credit.. Look at AmEx’s statements begging for government money… they weren’t in the mortgage business – but they did bundle the credit debt into securities – and that market has dried up.

I don’t see how the election caused this particular mess… seems like those whiz bangs on wall street, who literally figured out how to make money out of nothing with these derivitives, are more to blame.

[UCGal]

I don’t think the market collapse is related to the election. I think it’s related to the fact that the credit derivative scheme has been exposed and the over leveraging has been exposed, and the market is seeking the actual value.

The housing market, we all agree, was falsely inflated by easy credit… Now it’s correcting back to a more sustainable median price.

The same is true of the stock market – it was so out of wack with reality – with goods produced, with tangible value behind the price per share… And now it’s correcting.

So much of the market seemed to be related, by a few degrees of separation, to mortgage backed securities and securitized credit.. Look at AmEx’s statements begging for government money… they weren’t in the mortgage business – but they did bundle the credit debt into securities – and that market has dried up.

I don’t see how the election caused this particular mess… seems like those whiz bangs on wall street, who literally figured out how to make money out of nothing with these derivitives, are more to blame.

[Butleroftwo]

I don’t think so esmith
Cause- Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.
Effect- Worldwide markets tumble. Dow will soon be at 50% of its high in just over a year. At least tens of trillions lost.
This is way out of proportion.The market reaction is not based on the cause but the reactions from the Governments and the votes of the lemmings. IMHO
Hemorrhaging trillions of dollars to business that need to go bankrupt and taxing the ones that hire more people and make a profit is straight out of Atlas Shrugged and against all principles of capitalism.

[Butleroftwo]

I don’t think so esmith
Cause- Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.
Effect- Worldwide markets tumble. Dow will soon be at 50% of its high in just over a year. At least tens of trillions lost.
This is way out of proportion.The market reaction is not based on the cause but the reactions from the Governments and the votes of the lemmings. IMHO
Hemorrhaging trillions of dollars to business that need to go bankrupt and taxing the ones that hire more people and make a profit is straight out of Atlas Shrugged and against all principles of capitalism.

[Butleroftwo]

I don’t think so esmith
Cause- Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.
Effect- Worldwide markets tumble. Dow will soon be at 50% of its high in just over a year. At least tens of trillions lost.
This is way out of proportion.The market reaction is not based on the cause but the reactions from the Governments and the votes of the lemmings. IMHO
Hemorrhaging trillions of dollars to business that need to go bankrupt and taxing the ones that hire more people and make a profit is straight out of Atlas Shrugged and against all principles of capitalism.

[Butleroftwo]

I don’t think so esmith
Cause- Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.
Effect- Worldwide markets tumble. Dow will soon be at 50% of its high in just over a year. At least tens of trillions lost.
This is way out of proportion.The market reaction is not based on the cause but the reactions from the Governments and the votes of the lemmings. IMHO
Hemorrhaging trillions of dollars to business that need to go bankrupt and taxing the ones that hire more people and make a profit is straight out of Atlas Shrugged and against all principles of capitalism.

[Butleroftwo]

I don’t think so esmith
Cause- Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.
Effect- Worldwide markets tumble. Dow will soon be at 50% of its high in just over a year. At least tens of trillions lost.
This is way out of proportion.The market reaction is not based on the cause but the reactions from the Governments and the votes of the lemmings. IMHO
Hemorrhaging trillions of dollars to business that need to go bankrupt and taxing the ones that hire more people and make a profit is straight out of Atlas Shrugged and against all principles of capitalism.

[Arraya]

[quote=Butleroftwo]Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.[/quote]

Ok, first you gotta lay off the Rush and Hannity, it’ll rot your brain. Second if an entire global economy can be taken down from a small percentage of home buyers defaulting, there is something wrong with the model.

This is much bigger than that.

[Arraya]

[quote=Butleroftwo]Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.[/quote]

Ok, first you gotta lay off the Rush and Hannity, it’ll rot your brain. Second if an entire global economy can be taken down from a small percentage of home buyers defaulting, there is something wrong with the model.

This is much bigger than that.

[Arraya]

[quote=Butleroftwo]Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.[/quote]

Ok, first you gotta lay off the Rush and Hannity, it’ll rot your brain. Second if an entire global economy can be taken down from a small percentage of home buyers defaulting, there is something wrong with the model.

This is much bigger than that.

[Arraya]

[quote=Butleroftwo]Small percentage of US home loans given to fraudulent purchasers, sometimes referred to as the sub-prime mess.[/quote]

Ok, first you gotta lay off the Rush and Hannity, it’ll rot your brain. Second if an entire global economy can be taken down from a small percentage of home buyers defaulting, there is something wrong with the model.

This is much bigger than that.

[Author]

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