Posted on 08/08/2011 6:56:33 AM PDT by Red Badger
Edited on 08/08/2011 4:28:42 PM PDT by Admin Moderator. [history]
(Excerpt) Read more at moneycentral.msn.com ...
currently down 300, down 2.56%
They are busy preparing arrest warrants for S&P execs.
"...when faced with the greatest economic crisis, the greatest levels of economic inequality, and the greatest levels of corporate influence on politics since the Depression, Barack Obama stared into the eyes of history and chose to avert his gaze. Instead of indicting the people whose recklessness wrecked the economy, he put them in charge of it." - Drew Westen, New York Times
They were just talking about it on FOX business.
oh god.
S&P cuts Fannie Mae and Freddie Mac credit ratings from AAA to AA+
When you give ten useless, pointless speeches in two weeks, the “Presidential Address” is somewhat devalued. Obama would catch flak for whatever he does at this point, he has made such a hash of things. I guess he figures it is better to be blamed for something he didn’t do than be blamed for something he did do.
no doubt, Obama has pissed off the ratings agency, he called them out, they now say, well screw you then.
Yes, not surprising at all, next comes downgrades to state and local gov (fox).
Do you have a source for that information? Thanks.
Just a straight line down! 10 minutes ago it was down 220. Now down over 300!
Oil down too.
I called his D.C. office just before the vote as I had learned that he'd be supporting the bill that was just announced over the weekend.
Told’em, how could Kevin Brady support a bill that he’z not even read? Urged a NO vote.
Well, Ol Kevie baby voted for the bill.
This morning, I reminded Brady's office what it would have taken to avoid a debt downgrade. Also informed the lady that I'd not be supporting Brady in the next election.
I need a cigarette.
It will drop until 10:am Eastern. Then there will be an uptick as the short sellers lock in their profits. If it sticks we will see the day down only 100 or so.Well, still early in the day, but 10am was peak of uptick and it's been going fairly steadily down since then. So, guess it's time for hardhats.
just flashed up on Fox and Reuters, no link yet.
US Exchange opens under Rule 48 ... for prior rule 48 invocations see http://www.zerohedge.com/article/nyse-invokes-rule-48-mornings-opening-anticipates-unprecedented-volatility
S&P to cut Municipalities and Corporates ... see http://www.zerohedge.com/news/sp-about-start-cutting-corporates-well
And the left wants to make comments about Bush’s reactions on 9/11....
Oh, by the way Rep. Kevin Brady of Texas
202-225-4901, D.C. office.
Just in case any from his district down here in Montgomery co. Texas wanna give this bozo a call.
we’re going to need a bigger fire truck soon to put this blaze out.
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