Stock Market falls 500 points over credit downgrading

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Owner59 -> Stock Market falls 500 points over credit downgrading (8/8/2011 3:41:33 PM)
What kind of political party would kill our economy, in hopes that their opposition would get the blame? Wall Street plummets as fear jumps on historic downgrade" http://news.yahoo.com/stock-index-futures-tumble-p-downgrade-100133772.html GOP Candidates Blame Obama for Credit Rating Downgrade http://blogs.abcnews.com/thenote/2011/08/gop-candidates-blame-obama-for-credit-rating-downgrade.html

lockedaway -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 3:55:00 PM)
quote: ORIGINAL: Owner59 What kind of political party would kill our economy, in hopes that their opposition would get the blame? Wall Street plummets as fear jumps on historic downgrade" http://news.yahoo.com/stock-index-futures-tumble-p-downgrade-100133772.html GOP Candidates Blame Obama for Credit Rating Downgrade http://blogs.abcnews.com/thenote/2011/08/gop-candidates-blame-obama-for-credit-rating-downgrade.html LOLOLOL You are sooo stupid.

Iamsemisweet -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:00:11 PM)
S & P is downgrading Fannie and Freddie? Too bad they didn't do their job before, when they were rating sub prime mortgage securities as AAA. Now they tell us. I am having a hard time understanding why this downgrade is causing the reaction that it is, in light of this company's history. Do people really believe that this is the end of the world as we know it? Oh well, time to buy stock.

MileHighM -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:10:45 PM)
quote: ORIGINAL: Owner59 What kind of political party would kill our economy, in hopes that their opposition would get the blame? Wall Street plummets as fear jumps on historic downgrade" http://news.yahoo.com/stock-index-futures-tumble-p-downgrade-100133772.html GOP Candidates Blame Obama for Credit Rating Downgrade http://blogs.abcnews.com/thenote/2011/08/gop-candidates-blame-obama-for-credit-rating-downgrade.html I am sure you are trying to tie this to being purely about the S&P downgrade of the US credit rating. This slide was so far beyond that. It was partly because of the situation in the EU and their own debt problems, and also because of the downgrade of Freddie and Fannie. They hold a lot of bad debt and rely heavily on the government for solvency. This is sooooooo beyond partisan politics. You can lay the blame on whatever doorstep you want. NO ONE and I mean NO ONE dem or repub is doing a hill of beans to fix shit and have opted to just kick the can so to speak. If I was a trader, I would be worried too.

lockedaway -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:28:55 PM)
quote: ORIGINAL: Iamsemisweet S & P is downgrading Fannie and Freddie? Too bad they didn't do their job before, when they were rating sub prime mortgage securities as AAA. Now they tell us. I am having a hard time understanding why this downgrade is causing the reaction that it is, in light of this company's history. Do people really believe that this is the end of the world as we know it? Oh well, time to buy stock. Ummmm.....where you been????? Did you know that there were 3 senators that were cheer leaders for Fannie Mae and got kick backs from Fannie? Did you know that? The Senators were Chris Dodd, Barney Frank and Barrack Obama. In the shortest amount of time, one senator collected more money than the others. Do you know who????? Barrak Obama received $164,000.00 in two years. :) :) :)

lockedaway -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:31:12 PM)
quote: ORIGINAL: MileHighM quote: ORIGINAL: Owner59 What kind of political party would kill our economy, in hopes that their opposition would get the blame? Wall Street plummets as fear jumps on historic downgrade" http://news.yahoo.com/stock-index-futures-tumble-p-downgrade-100133772.html GOP Candidates Blame Obama for Credit Rating Downgrade http://blogs.abcnews.com/thenote/2011/08/gop-candidates-blame-obama-for-credit-rating-downgrade.html I am sure you are trying to tie this to being purely about the S&P downgrade of the US credit rating. This slide was so far beyond that. It was partly because of the situation in the EU and their own debt problems, and also because of the downgrade of Freddie and Fannie. They hold a lot of bad debt and rely heavily on the government for solvency. This is sooooooo beyond partisan politics. You can lay the blame on whatever doorstep you want. NO ONE and I mean NO ONE dem or repub is doing a hill of beans to fix shit and have opted to just kick the can so to speak. If I was a trader, I would be worried too. You give him too much credit. He isn't bright enough to tie his fucking shoes! He is only trying to say that the ENORMOUS landslide was caused by republicans. He is not smart enough or well read enough to know that there are market analysts that are referring to this as "really" just a correction. Now...I think it was a bit much for a correction. If Moody's were to downgrade us, I think you would see a landslide so sharp that the exchange would be closed down early.

mnottertail -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:41:08 PM)
http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html there are many politicians who get money from fannie and freddie. There needs to be some serious lawmaking to stop this and other money.

tj444 -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:44:11 PM)
quote: ORIGINAL: mnottertail There needs to be some serious lawmaking to stop this and other money. thats great in theory but exactly who in the govt is gonna actually do that?

Iamsemisweet -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 4:56:26 PM)
Don't quite know what this has to do with S & P and their actions, but thanks for the input quote: ORIGINAL: lockedaway quote: ORIGINAL: Iamsemisweet S & P is downgrading Fannie and Freddie? Too bad they didn't do their job before, when they were rating sub prime mortgage securities as AAA. Now they tell us. I am having a hard time understanding why this downgrade is causing the reaction that it is, in light of this company's history. Do people really believe that this is the end of the world as we know it? Oh well, time to buy stock. Ummmm.....where you been????? Did you know that there were 3 senators that were cheer leaders for Fannie Mae and got kick backs from Fannie? Did you know that? The Senators were Chris Dodd, Barney Frank and Barrack Obama. In the shortest amount of time, one senator collected more money than the others. Do you know who????? Barrak Obama received $164,000.00 in two years. :) :) :)

willbeurdaddy -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:00:30 PM)
quote: ORIGINAL: Iamsemisweet Don't quite know what this has to do with S & P and their actions, but thanks for the input The market drop has little or nothing to do with the downgrading to begin with. Treasury prices went UP. If youre car shopping and read that the Toyota you wanted has recurring brake problems, would you go back to the dealer and offer more than your last offer, and sell your reliable Lexus at the same time? The market drop is due to the economy and Obama's speech and him playing his same old "blame everyone else but me" game.

Politesub53 -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:04:26 PM)
Yeah Wilbur, the market drop has little to do with investors on the worlds markets worried about the downgrading, thats why its in freefall.

willbeurdaddy -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:11:56 PM)
quote: ORIGINAL: Politesub53 Yeah Wilbur, the market drop has little to do with investors on the worlds markets worried about the downgrading, thats why its in freefall. Good, Im glad you at least understand.

lockedaway -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:13:38 PM)
quote: Too bad they didn't do their job before, when they were rating sub prime mortgage securities as AAA. Now they tell us. You are blaming S&P for "not doing their jobs" when you have a motherfucking president complicit in persuading people that Fannie was not over leveraged? Are you kidding me???? You have joined the ranks of Owner59, Lucy, and some of the others. Congratulations, you must be very proud.

thompsonx -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:14:52 PM)
quote: He isn't bright enough to tie his fucking shoes! This from the individual who thinks that court packing is when the president fulfills his constitutional duty to appoint justices to the scotus. You are quick to call others stupid while at the same time posting the most ignorant puerile nonsense.

Iamsemisweet -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:25:09 PM)
Whatever. Still has nothing to do with S & P's failure to correctly evaluate the risk of sub prime mortgage securities, which, of course, turned out to be quite risky. quote: ORIGINAL: lockedaway quote: Too bad they didn't do their job before, when they were rating sub prime mortgage securities as AAA. Now they tell us. You are blaming S&P for "not doing their jobs" when you have a motherfucking president complicit in persuading people that Fannie was not over leveraged? Are you kidding me???? You have joined the ranks of Owner59, Lucy, and some of the others. Congratulations, you must be very proud.

willbeurdaddy -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:29:18 PM)
quote: ORIGINAL: Iamsemisweet Whatever. Still has nothing to do with S & P's failure to correctly evaluate the risk of sub prime mortgage securities, which, of course, turned out to be quite risky. It is, unfortunately, not uncommon for the ratings agencies to stand behind an investment right up until the day before it tanks.

Iamsemisweet -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 5:36:00 PM)
Yes. Exactly. S & P is incompetent, and their rating means nothing. Well, gotta get back to picking stocks. I think there are some bargains out there. quote: ORIGINAL: willbeurdaddy quote: ORIGINAL: Iamsemisweet Whatever. Still has nothing to do with S & P's failure to correctly evaluate the risk of sub prime mortgage securities, which, of course, turned out to be quite risky. It is, unfortunately, not uncommon for the ratings agencies to stand behind an investment right up until the day before it tanks.

blacksword404 -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 6:39:42 PM)
quote: ORIGINAL: tj444 quote: ORIGINAL: mnottertail There needs to be some serious lawmaking to stop this and other money. thats great in theory but exactly who in the govt is gonna actually do that? Nobody from within the system that's for sure. Working as a local politician up to state, to washington teaches them the Washington way of doing things. By the time they get there they only know one way of doing things. So it means nothing when they say they will reform or change their ways. They can't. They don't have another way to change to. And they are severely resistant to change.

ArizonaBossMan -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 6:53:47 PM)
Point well taken on the lack of heads up on the sub primes. S&P and Moody's... that's it, it's all ya got... but neither should be believed. Kinda like the mainstream media, too.

StrangerThan -> RE: Stock Market falls 500 points over credit downgrading (8/8/2011 7:01:53 PM)
quote: ORIGINAL: Owner59 What kind of political party would kill our economy, in hopes that their opposition would get the blame? You know, there's a lot of convenient forgetting going on here. The Tea Party folks stuck to their guns. I'll give you that, but in the lead up, there were Democrats killing bills within two hours of their passage, tweeting things like, this bill dies tonight before it even passed. Obama was dictating to Congress what he would accept, and threatening to veto if he didn't get what he wanted. Reid was posturing, Boehner was posturing. McCain was talking out of both sides of his mouth, talking tough on one side, but clarifying it that bottom line, they had to pass the debt ceiling. The more I learn about him, the more I dislike him, and the more I'm glad I didn't vote for him. He reminds me too much of Arlen Spector, who was more worried about getting re-elected than either doing the job he was sent to do, or doing the right thing. And in the end, they did nothing more than continue what they were doing during the wrangling, which was point fingers at each other and scream blame. Before the elections, I told someone out here that the Tea Party folks would do exactly what they did. They would say no, and mean no.

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