Thank you Mr. Geithner... - Mercedes-Benz Forum

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post #1 of 15 (permalink) Old 02-10-2009, 08:07 PM Thread Starter
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Thank you Mr. Geithner...





I wish they would all just S H U T U P!

Big name banking stocks were among the heaviest losers on Wall Street on Tuesday after Tim Geithner’s much-awaited financial sector rescue proposals failed to instil investors in the stricken sector with confidence.

The S&P 500 fell by 2.1 per cent in 10 minutes just before the Treasury secretary set out how the Obama administration would use the remaining financial sector bail-out fund.

The sell-off worsened as Mr Geithner spoke and continued throughout the day. Senate approval of the economic stimulus bill failed to halt the widespread decline, which wiped out much of the previous week’s strong gains.

“There was a very long drum roll leading up to this,” said Stephen Wood, senior portfolio strategist at Russell Investments. “It didn’t happen.”

Financials led the retreat, hurt by persistent fears of outright nationalisation of key institutions in which equity holders would be wiped out. The sector lost 10.9 per cent overall.

FT.com / Markets / US - Wall Street falls on Geithner announcement

Don't believe everything you think

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post #2 of 15 (permalink) Old 02-10-2009, 08:13 PM
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Did you miss Bush telling you lies to make you go to bed feeling all nice and fuzzy?
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post #3 of 15 (permalink) Old 02-10-2009, 08:50 PM
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Did you miss Bush telling you lies to make you go to bed feeling all nice and fuzzy?
Everyone lies to you, Drew, but the rest of us hear the truth, even if it appears between the lines.

Charter member of the Vast Rightwing Conspiracy and proud of it.

God Bless the America we're trying to create.
--Hillary Rodham Clinton
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post #4 of 15 (permalink) Old 02-10-2009, 08:51 PM
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Everyone lies to you, Drew, but the rest of us hear the truth, even if it appears between the lines.
Are you suggesting that Bush didn't lie to you?
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post #5 of 15 (permalink) Old 02-10-2009, 08:53 PM
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I wish they would all just S H U T U P!
So you were long on financials again today? You didn't know the announcement was coming?
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post #6 of 15 (permalink) Old 02-10-2009, 08:56 PM
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Are you suggesting that Bush didn't lie to you?
No, I'm saying Bush lied to you, but he told the truth to the rest of us.

You'll have to figure that out.

Charter member of the Vast Rightwing Conspiracy and proud of it.

God Bless the America we're trying to create.
--Hillary Rodham Clinton
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post #7 of 15 (permalink) Old 02-10-2009, 08:59 PM
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post #8 of 15 (permalink) Old 02-10-2009, 09:01 PM
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Now J, how many times do we have to go over this. It doesn't matter what any single day's stock market is. Just as it dropped today, it will go back up on bargains.

I am more concerned with overall rebuilding of the foundation than incidental drops. I hate them as much as anyone but they only reflect the day, little else.

McBear,
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Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #9 of 15 (permalink) Old 02-10-2009, 09:01 PM
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No, I'm saying Bush lied to you, but he told the truth to the rest of us.

You'll have to figure that out.
You mean we found the WMD in Iraq after all?
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post #10 of 15 (permalink) Old 02-10-2009, 09:06 PM
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No, I'm saying Bush lied to you, but he told the truth to the rest of us.



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