Here we go again(Dow down 230)

CNBC

[newsperson999]

Went down fast when Greenspan began speaking..

[newsperson999]

WALLSTREET MELTDOWN FORUM please join here

[rdavis84]

Ever wonder what would happen if Greenspan AND Bush gave a talk to America together?

[norraad]

So do I.

[Lysander]

The ?Federal Reserve? is neither federal nor a reserve.

It is time to return to a backed currency. Gold, silver, oil, energy units, anything but minimum wage.

[Guillermo]

Maybe they should all shut up and start fixing the fraud in the gov't.

[Semper Paratus]

Reminds me of an old joke in Boston:

How do you depress the Central Artery?
Answer: Have Dukakis talk to it.

[Fred Mertz]

What did NBC newswoman Andrea Mitchell's husband say now?

[zook]

That's a joke, right? I mean, the market headed down from the opening bell. Greenspan had nothing to do with it.

[staytrue]

the european and asian stock markets were down big time over nite. I suppose you want to blame bush and greenspan for that too.

[steveegg]

The Dow futures were down 130 just before the opening bell, which is precisely when Greenspan started speaking.

[SauronOfMordor]

Down 177 to 8461, Think we'll see it crack 8000 by end of week?

[RoseofTexas]

Just get out of bed, opened our local newspaper, turned on the tube and PRESTO! Articles slamming bush, than I see Greenspan and the sm tanking AGAIN, my heart can't too much of this, so I threw the paper in the trash can and turned off the tube...SIGH :( I hope the rest of the day turns out better!

[newsperson999]

I was being sarcastic(like the media had the spilt screens yesterday when Bush talked)..it did fall 50 points in like 5 minutes but seems to be coming back now -164

[steveegg]

Details (based, admittedly, on the prepared remarks) here.

[RoseofTexas]

oops, left out TAKE...I need more coffee :)

[cake_crumb]

More likely it's due to profit taking. It'll probably go back up later in the day. Why wasn't I reading all this gloom and doom stuff when the market was seesawing just like this in March 2000? Wrong guy in the Oval Office at the time?

[steveegg]

Or loss-limiting (there isn't a lot of short-term profits to have).

You nailed the reason why this wasn't news 2 years ago, and when the start of the Clinton Collapse was finally noticed, it was blamed on Bush "talking down" the economy.

Dow -131
NASDAQ -9
S&P -20
(numbers as of 9:47 am CDT)

[TLBSHOW]

That is because he did not ask for a tax break or tax cut's for the rich. Which he knows damn well would help.

But no instead he has just given a nothing speech. Too bad for the market.

[steve50]

It's coming back now. The PPT boys aren't going to let him lose credibility. He's much more important to them than Bush.