Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Blog Post on Bank Stress Tests Adds to Worries (Hal Turner caused stock plunge?)
NYT DealBook ^ | 04/20/09

Posted on 04/20/2009 10:57:01 PM PDT by TigerLikesRooster

Blog Post on Bank Stress Tests Adds to Worries

Did a dire posting on an obscure blog about the Treasury’s bank stress tests contribute to Wall Street’s sell-off of financial stocks on Monday?

Hal Turner, a blogger as well as a former controversial conservative radio host, wrote on his Turner Radio Network Blog on Sunday night that he had obtained the results of the stress tests, which are set to be announced in the coming weeks, and he asserted that the results were troubling.

A Treasury Department spokesman, Andrew Williams, told CNBC on Monday that there was “no basis” for Mr. Turner’s report and that the Treasury had yet to receive the results of the test.

Stocks fell sharply on Monday after Bank of America reported $4.2 billion in earnings, as investors became concerned that much of the profits being reported by banks were coming from one-time gains or accounting adjustments. Some news reports said Mr. Turner’s blog post contributed to Wall Street’s nervousness.

(Excerpt) Read more at dealbook.blogs.nytimes.com ...


TOPICS: Business/Economy
KEYWORDS: halturner; stockplunge; stresstest

1 posted on 04/20/2009 10:57:02 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | View Replies]

To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 04/20/2009 10:57:23 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster
Treasury: Caught Lying Again


3 posted on 04/20/2009 11:01:12 PM PDT by blam
[ Post Reply | Private Reply | To 2 | View Replies]

To: TigerLikesRooster

Americans elected an Islamic Mugabe last November so i am wondering why anyone is suprised.

What is scary is it is almost impossible to find any ammo for sale. You can find some 9 mm but most other calibers are sold out.


4 posted on 04/20/2009 11:02:02 PM PDT by Frantzie (Boycott GE - they own NBC, MSNBC, CNBC & Universal. Boycott Disney - they own ABC)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

Doubtful. Somebody posted “zerohedge”’s report on the Hal (not Ted) Turner “news” here earlier. (http://zerohedge.blogspot.com/2009/04/stress-test-results-leaked.html) Note the comments there — it was hooted down quickly and almost unanimously.

No the fact of the matter is that this was a bear-market rally LONG OVERDUE for some “profit-taking” (wink wink), and the announcement of yet another shell game to pretend the banks are solvent was the driver.


5 posted on 04/20/2009 11:07:00 PM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jiggyboy
Right it is overdue. Rumor-mongering helps, I guess.

By the way, judging from his political 'rap sheet,' Hal Turner is exactly the guy Obama wants to go after. A kind of easy target and useful one at that, because he can be used to discredit right-wing.

On the other hand, this guy wants to be arrested and make further publicity.

So much secrecy and distortion of facts abound these days when it comes to the financial matters. Nobody really believes what authorities say. A kind of fertile ground for rumor-mongering to get publicity.

6 posted on 04/20/2009 11:19:42 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | To 5 | View Replies]

To: jiggyboy

We’re in the calm before the storm. At least our side will be better prepared than the 0zombies.


7 posted on 04/20/2009 11:20:12 PM PDT by unkus
[ Post Reply | Private Reply | To 5 | View Replies]

To: TigerLikesRooster
Did a dire posting on an obscure blog about the Treasury’s bank stress tests contribute to Wall Street’s sell-off of financial stocks on Monday?

The answer is "No!". Arthur Cashin said on Friday that there would be a sell-off this week. He knew that most professional NYSE traders were short, so it was no-brainer call.

8 posted on 04/20/2009 11:54:17 PM PDT by snarks_when_bored
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

IMHO the sell off was a direct result of O promising to ‘nationalize’ the bank stocks.

By converting preferred stock to common stock he diluted the value of the stock.

Investors do not see this as a good thing.


9 posted on 04/21/2009 12:39:00 AM PDT by Carley (MOANING IN AMERIKA)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

That lunatic Hal Turner.... Denninger reported on what Turner said. Turner is a New Jersey super right wing anti-Semite loon. He’s had a internet presence for years and also on the radio. I’m sure he is right on some things


10 posted on 04/21/2009 1:41:19 AM PDT by dennisw (Your action becomes your habit. Your habit becomes your character, that becomes your destiny)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dennisw

Yes, I found out yesterday.


11 posted on 04/21/2009 2:04:15 AM PDT by TigerLikesRooster
[ Post Reply | Private Reply | To 10 | View Replies]

To: TigerLikesRooster

Yeah Hal Turner was kicking around news groups 10 and more years ago where I first got acquainted with him


12 posted on 04/21/2009 2:35:24 AM PDT by dennisw (Your action becomes your habit. Your habit becomes your character, that becomes your destiny)
[ Post Reply | Private Reply | To 11 | View Replies]

To: TigerLikesRooster
Hal Turner, a blogger as well as a former controversial conservative radio host...

He was working for the FBI - his job was to incite conservatives into "crossing the line" ... I wonder if he writes the racist stuff - or if the FBI has other people writing that... My feeling is they closed down "Flag" because it occured to them that all the hate stuff was being put out by liberal pretending to be conservatives.

13 posted on 08/18/2009 3:50:12 PM PDT by GOPJ ("Fishy rumors posters" Check 'em out:http://www.freerepublic.com/focus/f-news/2311664/posts)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson