Showing posts with label Dow Jones. Show all posts
Showing posts with label Dow Jones. Show all posts

Thursday, November 20, 2008

In fact... give us our money back

After all, it's our (the taxpaying public's) money; we have a right to know where that money goes, what debts are being paid and however else those billions are being used. It's time, fumes Cramer, for AIG to open its "big book of business" and "show us the money!"

Cramer then aims his personal Outrage at the market "wizards" and know-it-alls -- you know, the ones you see crowing about how they saw this financial crisis coming and got out and, oh yeah, made a ton of money and are doing absolutely great, thank you very much.

To those smirking faces, this is what Cramer has to say: "Shut the heck up."

After all, "people are losing fortunes, their savings, their nest eggs, college tuition money, hard earned and hard to earn dollars in this stock market." Do these people -- or ANY honest, hard-working people -- need to hear that kind of smug, self-congratulatory crap? What happened to common decency and courtesy -- if not actual empathy?
As the market tanks:
Dow Could Hit 6,500

Expect a further 10%-15% drop in the Dow, predicts Ron Ianieri, chief markets strategist at Options University, adding that the index could slide to 6,500.

And there it goes...
Dow Jones Industrial Average
So. You CEOs who fly private jets to come and ask for more money... you morons who go to private spas and partridge shoots while on the taxpayer's dime... The party is over. And you guys are now accountable to us.

Where did the money go?

Because we want it back.

Update: Josh Marshall of TPM is making a list:
We're focusing today on Mack "MackDaddy" Whittle, longtime CEO of South Financial Group, who pushed up his retirement last month so he could cash out with a $18 million Golden Parachute just before sending his bank hat in hand to the Feds to get $347 million in choice Grade A Prime bailout money.

[snip]

But we also know Whittle isn't the only one who's pulled something like this. And we want to put together a list of everyone who has. It doesn't have to be precisely like this. Gazillion dollar corporate retreats while you've turned your company over to the Treasury Department's corporate ICU will do fine as well.

So let us know all the examples you can think of.

Late Update: Surprise, surprise -- turns out Whittle was a part of McCain's South Carolina finance team. And now a shareholder is suing him to cough up some of the loot.

Sunday, July 15, 2007

What is going on?

The Dow Jones, the main US share index, reached another record high as it breached the 13,900 mark on Friday - a day after setting a fresh record.

The Dow Jones index of blue-chip stocks closed up 45.52 points, or 0.33%, at 13,907.25. It had earlier reached a new intraday trading high of 13,932.29.

But then:

US retail sales unexpectedly dropped by 0.9% in June, a report from the US Commerce Department says - their biggest decline in almost two years.

Sales were down 0.4% even without the effect of a slump in the car market, the cause of much of the fall.

Yet Tony Snow is telling us:
To walk out of Iraq right now would plant a seed that ultimately would lead to destabilization there, hundreds of thousands of deaths, loss of our influence in the region, would create instability throughout the Middle East throughout East Asia, throughout Europe. And sooner or later it would come to our shores, to a shopping mall near you.
And Bush is saying:
It's better to fight them there than here. And this concept about, well, maybe let's just kind of just leave them alone and maybe they'll be all right is naive. These people attacked us before we were in Iraq. They viciously attacked us before we were in Iraq, and they've been attacking ever since. They are a threat to your children, David, and whoever is in that Oval Office better understand it and take measures necessary to protect the American people.
I don't know whether to buy stocks, sell stocks, go shopping, or drag out my box of plastic wrap and duct tape....