More anxiety on Wall St.: Stocks dive, oil soars

I guess they might as well make their money back some how... I notice nothing has ever been done to try to control the oil market.. Funny huh?

Do you ever wonder if Al-Qaeda might be behind the price manipulation and banking crisis plaguing America? We've put a ton of resources into preventing a "terrorist" attack but it seems our economic infrastructure is vulnerable. Maybe they can do with oil and credit what they couldn't do with jets.

Techion

Bail out home owners? I don't think so, I will not bail out home owners who bought to much house who now can't afford it, to bad so sad, live within your means!

So.. either way.. we're pretty much @!$%#ed... awesome...

I thought that headline about the stocks rallying was rather premature. This is far from over.

When Capitalism goes bad. Greed, and self serving 1% of the population putting the rest of the country in debt, now they want taxpayers to bail them out. Less than 8 years of GOP Administration. The Bush trickle down economic theory. My theory is the best part of the Bush family trickled down their mothers leg. Sorry, but listening to Republicans for 8 years and losing just about everything I've worked my life for go down the tubes makes it a little bitter. CEO's walk away without any remorse for what they've done with pockets full of money, and the Oil Company's keep raking it in.

I'm okay with six more weeks of showing the US exactly how the Republicans handle the financial crisis.

Dang! I forgot. They'll blame it on the Democrats. See, eight years of horrible governance from the Administrative branch (you know, the one who thinks it'd be great if he's a dictator) and the US populace will think, "Duh, I guess we need to put them into the driver's seat again."

If McCain is elected, that will put a stamp and seal on the statement that the US population is at least half-filled with congenital idiots.

"When you try to print $1 trillion, that will kill your currency, lifting oil prices, which then in turn will not help the stock market," said Gary Kaltbaum, who runs the money management firm Kaltbaum and Associates in Orlando, Fla. "It is a vicious cycle, and we are seeing that right now."

This is only the beginning. If the financial powers are panicky now, just wait until the dollar means nothing. It really is going to begin snowballing. Right now the middle class takes the hit, but it will eventually begin to affect all consumers.

Printing more dollars will fuel spiraling inflation and as noted above, "lifting oil prices". I knew things were going to get much worse and intuition tells me this will be a rough ride for some time to come.

I work in the mortgage industry and have some idea of what is involved in modifying a note in order to prevent a forclosure. If not one more loan went delinquent as of this month, it would still take at least a year to clear the pipeline. Even if you could prevent any additional defaults, what do you offer the people who have already lost their homes? How do you differentiate between a family man who got a loan, that based on current income, job stability and credit worthiness was a thoughtful, prudent action to buy a modest home and some yahoo who had five jobs the past two years, lousy credit and gets a sub prime no down, no doc, neg am loan to get his hands on a badly built over priced McMansion that he never intended to live in but bought because a good buddy assured him he would make a killing on it in six months? As you try to make a Solomon like decision between these two borrowers, keep track of your time and then multiple the time it took by a million. It actually takes about 20 hours to resolve every applicant.

An even bigger concern is what do our leaders tell those of us who are making payments on greatly devalued properties in neighborhoods that are turning into slums because of the abandoned properties surrounding us? What the hell is in it for us? Maybe we have a patriotic duty to make payments like it's our patriotic duty to pay taxes? The government is broke. Additional tax breaks are not going to improve the situation. You would not believe the number of people who are taking cash advances to make mortgage payments! Sounds crazy huh? Why would any one use borrowed money to pay bills? I rest my case.

When I look back at what I have just written I realize that I am scared. I don't know how we can borrow our way out of this. I don't know if we deserve to be rescued. I do know that under no circumstance will I allow a Rebublican to officiate at our demise. This crisis may bring a Democratic President and two totally Democratic dominated Houses. When we do get our financial house back in order it will look vastly different from what we have now.

Elation was replaced by anxiety... when specialists began dumping billions of shares of stock that changed hands... after ten of millions of September call options finished unexpectedly in the money last week. Congratulations! Where do want ten thousand shares you just acquired from Harry at five bucks apiece? Can't pay for them? No problem! We'll take them off your hands right now and simply sell them next week. We have a few days to do so you know. Here's your profit on the purchase and sale, minus our commission. Harry can buy the shares back next week assuming he feels like it.

Ironically there might have been an even greater effect in the opposite direction, starting today, if even greater numbers of put options finished in the money (or so it seemed at a glance last on Friday, at least in the banking sector). Someone would today have been buying shares "sold" to those who wrote such options, thereby closing out the short positions typically used to cover them. In as much as the options expired worthless, the short positions presumably remained open. And who would want to close them today?

Thus the SEC shot the administration in the foot. Offhand why should I trust a plan when it's own proponents seem to know so little about their own industry?

Obama-Biden '08

I have a laugh when i read some of these comments,this is the land of plenty why worry most all of us are in the same boat.The only one who got over on us are now telling us Give ME Money And ABSOLUTE POWER will work out the details later.And you cant do nothing about it just sit here and watch it. I wonder if they might come busting my door down cause iv said something!I feel like they have destroyed the AMERICAN DREAM and any hope of recovery.'Home Owners got screwed Bill'were about to pass.I hope it turns into vote them out Bill !!!