Big Banks/Brokers have FED by the balls. FED CAN'T let them fail so they get away with murder. FED has no choice in this situation. This is Mega-Theft on an unprecedented scale and there's not a damn thing Joe Public can do about it... except pay his taxes and watch his pension fund go...
FED is running out of room to work with rates. Soon they'll be coming up with liquidity solutions as obscure as the instruments that got us into this mess.
The FED is more focussed on an imminent collapse of the whole system. The credit freeze can cause a deflationary implosion. Minimum 75 points tomorrow.
Given that commodities and RE are the only things with intrinsic value and RE is nowhere near bottom. Commodities could double on flight to value - with no actual consumption basis, no supply/demand function - as currencies evaporate.
This is at least the 3rd time since 1900 JP Morgan has worked with Gov't to try to stave off a crash ( didn't succeed in '29 ). BSC may be worth a lot more than $2 but Gov't didn't want the market flooded with BSC assets so they approved this "deal" in a terrific hurry to avert a crash...
Somebody in Obama's troupe played the race card in the lead-up to South Carolina and it's been paying off ever since. After all the Clintons have done to promote equality Hillary must feel betrayed.
In the big contest the black vote is a given for the Dems so Obama won't have a race card to...
Whatever odds.. all three are prime candidates for assasination. The extreme right hates them all and those guys are all well armed and pissed off. Maybe none of these three make it to the finish line. President Huckabee when the smoke clears?