Is Pelosi's shitting on Republicans and assigning partisan blame and engaging in elction based maneuvering more important than the financial rescue? Is that leadership? Is that how you want the MAJORITY PARTY to do business? Is it effective?
Again, the Dems don't need a single Republican...
Yesirree...Demon speculators caused this.
Not a peep about Jesus H. Obama's Democrat buddies Franklin Raines, Jamie Gorelick, Barney Frank, Jim Johnson, etc....
Pelosi is a toxic moron who's done nothing but throw rocks at Republicans her entire term as Speaker of the House. She hasn't accomplished anything constructive and hasn't even really tried.
It was darkly hilarious to see a big rally on the "good" inflation news.
The money managers are like any other business in that they want to put cash to work to generate profits. The only way for most of them to do that is buy stocks that go up. They've got cash built up after this year's...
Citi's selling off further today after they announced a huge asset sale. It leaves them pounding the bid on all kinds of crap that's already been devalued. What if they sell or do a lease-back deal on their branches? Not the best real estate market in which to make that switch.
Some...
Citigroup announced they're selling another $2 billion in preferred. They followed their last sale of preferred a week or two ago with another sale of common. I wouldn't be surprised if they dump more common out there this time also.
They're going to have one hell of a gigantic float if...
Hence the market reaction. If the Fed left rates unchanged and said they were done for this cycle I think we would have seen a different take. Instead, we got the usual "on the one hand, on the other hand" mealy-mouthed wimpiness that doesn't signal leadership and makes markets uneasy.
At the top of an overbought range and backing off +170 on the Dow to finish negative. A lot of people looking for a big selloff in crude and a massive dollar rally to go with a market rally. Doesn't look like it's going to happen barring some wackiness overnight.