AT&T, Lucent report losses totaling $20 billion

Boston Globe via Seattle Post Intelligencer ^ | July 24, 2002 | PETER J. HOWE

[DoughtyOne]

The DOW futures just tanked about a half hour ago. Things were looking like a modest upward opening of about twenty points. Just a few minutes ago the futures were down over 110 points.

[DoughtyOne]

I am uneasy about what the stock declines of the two major banks might portend for the nation. This could get ugly.

[per loin]

The Euro markets are tanking too. Netherlands down over 6%. A couple of others down over 5%. Have you got a site for following the dow futures?

[paul544]

Go to CNNFN and then to Markets and then to AM Market call on the left.

[DB]

Crazy days...

People talk about the "greedy few" that wrecked everything but the truth is the greedy millions who pored billions into the stock market and "companies" that never made a dime expecting easy money are just as much to blame IMO.

[DoughtyOne]

Yes. Just a moment and I'll bring up that address.

[per loin]

Thanks

[DoughtyOne]

Here's that link:  http://money.cnn.com/markets/afterhours/

That's CNNMoney's After Hours page

Click on the left side margin for foreign markets.

Foreign markets are down from 2.25% to 6.50%.  The European nations are down around 3 to 4%, with the Asian markets not far behind.  That 6.5% is the Denmark I believe.

[per loin]

Thanks. Here's a more complete euro market list.

[Ken H]

Here is a link to overnight quotes on the Dow, Nasdaq, S&P Gold, currencies, etc.-- http://www.mrci.com/qpnight.asp

[Ken H]

Here is a link to overnight quotes on the Dow, Nasdaq, S&P Gold, currencies, etc.-- http://www.mrci.com/qpnight.asp

[per loin]

Kuul! Thanks.

[DoughtyOne]

I would agree with you in part. The part that I can't agree on is the profit and loss statements that weren't worth the paper they were written on.

Nobody can tell me that the CEOs of Enron and the recent Communications giant that went under didn't break any existing laws. And frankly it is becoming a national embarassment that they haven't been brought up on charges yet.

As for Arthur Anderson, it is sounding more and more like the top 100 of that agency should be behind bars for the next few decades.

The idea that there is any doubt that any laws were broken and that we need to devise new laws to fix this is absolute nonsense. Has anyone in our current justice department heard of the word FRAUD?

[DoughtyOne]

Thanks for the links guys. I've copied them into my bookmarks.

[DoughtyOne]

Those northern European nations are taking it in the shorts. Finland, Denmark, Sweden, possibly a coupld of others are all down between four and six percent.

[DB]

I agree with that. My point was that the vast number of "dot-com companies" these people were pouring money into in the late 90's never even claimed to make a dime's profit funny accounting or not.

[DoughtyOne]

And I agree with your point about the non-profit status of these dot coms. To my way of thinking it was basicly a scam to even allow them to sell stock. Aren't there some requirements on new issues? Don't there have to be tangible assets or at least a profit model? Most of those dot coms were never designed to make money that I can see. Seems like the SEC should have denied those stock offerings. People would have been far ahead of the game if they had.

I agree that people should know better than to jump in the market. Heck if we'd have all listened to our inner voices nobody would have made a dime in the late 1990s. As it is, fortunes were made. People were bankrupted too.

From 1995 or so on, I kept my money on the sidelines. I could have made a lot of money, but the P/E ratios told me that the bubble would burst sooner or later. My TSAs remained in tact until the market landed around 2100 on the NASDAQ. At that point I thought things had settled out. Boy was I wrong. Oh well.

[per loin]

Yes, but coming a little up from their lows. The morning Dow could be crazy.

[Caipirabob]

The Clinton Legacy : "The Decade Of Fraud"