May 06, 2010
Bumped Due to Importance
— DrewM NYSE Down 900 or so and falling.
Okay looks like it's bouncing back and the loss in the 450 range.
Stocks plunged Thursday and took the Dow Jones industrials down almost 1,000 points as investors succumbed to fears that Greece's debt problems would halt the global economic recovery.Computer selling intensified the selling while investors watched protests in the streets of Athens on TV. Fears are running high in the financial markets that the Greek government will not be able to implement austerity measures that would enable it to contain its debt problems. And, in turn, that the country's problems will hurt other economies in Europe and even the U.S.
They didn't hit the automatic shutdown point but it was close.
Ace's Headline:
Bush's Failed Policies of the Past Cause Crisis In Greece, World Panic
Not to be a hack, but how is it Bush is still being blamed for what is obviously a near-universal world-wide asset-bubble?
Did Bush also cause a housing bubble in Spain? Did Bush's "dangerous deregulation" cause foreign countries and foreign markets to invest so heavily Spanish housing speculation?
Yes, America, like a Ranger, leads the way, but.... Maybe I'm crazy but it sure seems to me that virtually every country is having the same, or very similar problems, and last time I checked Bush was not elected to serve as President of the Galaxy.
Buy on the Rumor, Sell on the News: At Hot Air, Allah posts a commenter noting the current rumor (which we're hearing over here, too). Take already-shaky and spooky markets and add a glitch...
There was a bad print (trade) in Proctor and Gamble (PG) It went from the low $60 to $40Â’s for no reason. I worked on the NYSE for 10 years now daytrade and this is what set off the stampede. The market was primed for any reason for a sell off, the spill in the gulf and Greece, so it was the straw that broke the camels back. When something like that happens it sets off machine generated sell orders adding a pile on effect. Not good, but the recent bull market has been based on unicorns and fairy dust, it will be a very interesting summer.
A similar but different rumor (I think) says the error was caused by "M" for million being written instead of "B" for billion (or the other way 'round)...
CNBC: Human error was expected to have triggered intraday selloff. Somebody may have typed "billion" stedda "million"
Thanks to DrewM and Slublog for those rumors.
Another Rumor: From shibumi:
Supposedly, the carnage is due to a rumor that European banks are no longer lending. To anyone.
Well, three different rumors. I'm guessing that no one really has any idea yet.
Hmmm... Here's P&G's price chart. I don't know how to read this, but I think in that middle box you see the price falling asymptotically, strrrrraight down:
The "b" and "m" story and the P&G price story may be the same story:
According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble, a component in the Dow.
Posted by: DrewM at
11:52 AM
| Comments (443)
Post contains 546 words, total size 4 kb.
We just witnessed the "Plunge Protection Team" (PPT) in action.
Posted by: Gordon Gekko at May 06, 2010 10:54 AM (qL730)
The DJIA has been steadily creeping up on relatively low trading volume (which nobody talks about).
So is there high volume? Because I would say that means this is bad, really bad.
Posted by: Count Chocula at May 06, 2010 10:54 AM (uFokq)
Posted by: B. Obama at May 06, 2010 10:55 AM (uKraB)
The bailout of Greece is probably what has people worried.
Posted by: Vic at May 06, 2010 10:55 AM (QrA9E)
At 2:35 the dow was at 10500
At 2:46 the dow was at 9872
At 2:53 the dow was at 10410
I'm a stock market novice, so WTF
Posted by: Doc at May 06, 2010 10:56 AM (WKOg4)
Posted by: Gordon Gekko at May 06, 2010 10:57 AM (qL730)
I'm a stock market novice, so WTF
Computerized trading, baby. You can execute millions of buy/sell orders in a few seconds.
Posted by: Monty at May 06, 2010 10:58 AM (4Pleu)
Posted by: Concerned Hedgie at May 06, 2010 10:58 AM (6uiF7)
Posted by: Mortimer Duke at May 06, 2010 10:59 AM (qL730)
How many that played the bounce from DOW 6800 or so will now bail out?
Posted by: bill at May 06, 2010 10:59 AM (X/Ydd)
Posted by: G. Soros at May 06, 2010 11:00 AM (uKraB)
"Stocks plunged Thursday and took the Dow Jones industrials down almost 1,000 points as investors succumbed to fears"
or perhaps "reality"
Posted by: shoey at May 06, 2010 11:00 AM (yCH89)
Posted by: FUBAR at May 06, 2010 11:00 AM (1fanL)
Posted by: Monty at May 06, 2010 02:58 PM (4Pleu)
What is the Sound of Invisible Hands Wrestling Thumbs?
Posted by: garrett at May 06, 2010 11:00 AM (vDuR7)
The bailout of Greece is probably what has people worried.
Partly. But there's also a lot of domestic shit that has investors spooked: the Wall Street "reform" bill; the lower-than-expected retail numbers; the public pension mess in states and municipalities (affects muni bonds and state debt). Basically -- investors aren't hearing any credible plan to clean up the mess, so they're getting out of equities until the situation calms down.
If Fitch or Moody's or S&P downgrades Portugal's debt...there's gonna be blood on the floor.
Posted by: Monty at May 06, 2010 11:01 AM (4Pleu)
Posted by: conscious and not optomistic about the outcome at May 06, 2010 11:01 AM (YVZlY)
Posted by: Mortimer Duke at May 06, 2010 02:59 PM (qL730)
Get a Hold of Yourself and Read the other Comments!
Posted by: Randolph Duke at May 06, 2010 11:02 AM (vDuR7)
Posted by: bill at May 06, 2010 11:02 AM (X/Ydd)
This was my # source for below 10k:
http://bit.ly/9KTzKJ
Posted by: Doc at May 06, 2010 11:02 AM (WKOg4)
Partly. But there's also a lot of domestic shit that has investors spooked: the Wall Street "reform" bill; the lower-than-expected retail numbers; the public pension mess in states and municipalities (affects muni bonds and state debt).
Oh, don't forget the various proposals to confiscate your retirement money to pay for the public sector pensions!
Posted by: Rob Crawford at May 06, 2010 11:03 AM (IuKAf)
Posted by: DarthKeller at May 06, 2010 11:03 AM (XagN+)
I wonder how much ground they're going to make up before the close? Gotta be a lot of bargain-hunters out there looking for a quick kill....
Posted by: Monty at May 06, 2010 11:05 AM (4Pleu)
I am guessing the bailout of Greece was the main factor. I think a lot of people, myself included, think the EU just gave greece 150 billion that it will never get back when greece defaults, which it unquestionably will.
I was thinking of selling off 2 weeks ago and start shorting. I am mad i didn't.
Posted by: Ben at May 06, 2010 11:05 AM (wuv1c)
Posted by: conscious and not optomistic about the outcome at May 06, 2010 11:05 AM (YVZlY)
Posted by: bill at May 06, 2010 11:05 AM (X/Ydd)
GDP, fuckers! Pay no attention to this! Focus your attention on the GDP! That is all that matters....
*eyes twitch wildly*
Posted by: suckdragon at May 06, 2010 11:05 AM (q/kmn)
Posted by: In before the troll at May 06, 2010 11:05 AM (ZSVyF)
arrrgh mateys! let loose the money pumps!
Posted by: Federal Reserve at May 06, 2010 11:06 AM (yCH89)
I was going by the #s at the top of the page when you moused over the chart.
Like I said, I normally don't follow this stuff, so I don't know very much about it.
Posted by: Doc at May 06, 2010 11:06 AM (WKOg4)
My low shows 9970.
We have a shitload of people with buy orders in at 10,000.
Those people are going to get scorched one of these days. Like tomorrow maybe.
Posted by: Circa (Insert Year Here) at May 06, 2010 11:07 AM (B+qrE)
Savers and Baby Boomers are getting fucked.
Thanks a lot you assholes for voting for your beloved "One".
CNBC is in fucking panic, watching it is REALLY scary!
Greece, here we come!!
Posted by: Kemp at May 06, 2010 11:07 AM (2+9Yx)
Posted by: Ben at May 06, 2010 02:55 PM (wuv1c)
Which is triply amazing, considering that the US dollar is rallying. Normally, gold would fall $50 on such a dollar rally, but the problems with the monetary systems around the world are too bad. And we have a bunch of traitors and retards in the federal government who have been killing any semblance of stability our monetary system had left, in order to push through their anti-American, un-Constitutional socialist plans. The Precedent and his junta should all be in jail. I wonder what it will take for America to realize that we must choose between the US and The Precedent. Both will not emerge from his term intact.
Posted by: progressoverpeace at May 06, 2010 11:07 AM (Qp4DT)
It's almost like people think our government and monetary system is being destroyed.
Posted by: bill at May 06, 2010 11:07 AM (X/Ydd)
Posted by: Young Renaissance Man (AKA: YRM: Probably The Youngest Guy On Here) at May 06, 2010 11:07 AM (38UQ3)
Posted by: damian at May 06, 2010 11:09 AM (4WbTI)
Posted by: Obama Administration Spin Control Czar at May 06, 2010 11:09 AM (YVZlY)
Posted by: Daveyardbird at May 06, 2010 11:09 AM (Bq4QI)
Posted by: Federal Reserve at May 06, 2010 11:10 AM (yCH89)
Posted by: UGrev at May 06, 2010 11:10 AM (862vz)
Which is triply amazing, considering that the US dollar is rallying.
That's because the eruo cannot suck enough. For obvious swarthy country based reasons.
Monetary union without political union is right underneath Marxism as the most idiotic economic idea of all time.
Posted by: Circa (Insert Year Here) at May 06, 2010 11:11 AM (B+qrE)
Posted by: La Raza at May 06, 2010 11:11 AM (YVZlY)
Posted by: Timmy Geitner, timidly whispers into the phone... at May 06, 2010 11:11 AM (vDuR7)
Posted by: LtE113 at May 06, 2010 11:12 AM (8EieV)
"Savers and Baby Boomers are getting fucked."
For the first time in my adult life, I am oddly relieved that I am currently up to my neck in debt. Manageable debt...barely...but manageable, and with bupkus in savings.
Posted by: reason at May 06, 2010 11:12 AM (q/kmn)
Posted by: Waterhouse at May 06, 2010 11:13 AM (4OL2Z)
Posted by: shibumi at May 06, 2010 11:14 AM (OKZrE)
Posted by: Comrade Arthur at May 06, 2010 11:15 AM (4Irul)
Okay, the DJIA cliff-dives under 10K and then does a rocket shot back above 10400, all within the span of 30 minutes.
What the hell happened? Did GS ramp up their buying algos, or what?
Posted by: David Axelrod's Combover at May 06, 2010 11:15 AM (/Pw+r)
Short-term savings now are almost pointless. Money markets are below 1% return. Interest-bearing checking accounts and passbook accounts likewise. T-Bills are paying zero. In short: you might as well spend your money, because there's no real profit in investing it right now. Contrarily, debt is cheap if you have good credit, so why not take on cheap debt while you can?
We are so boned.
Posted by: Monty at May 06, 2010 11:16 AM (4Pleu)
It is almost like democrats WANT to break they system.
Posted by: bill at May 06, 2010 11:16 AM (X/Ydd)
Posted by: bill at May 06, 2010 03:16 PM (X/Ydd)
OMG! I never thought about it that way.
/sarc'n'stuff
Posted by: Editor at May 06, 2010 11:18 AM (pUfK9)
I don't want to alarm anyone, but I looked outside and I can see ninjas dropping out of trees.
And they have laser beams on their frakkin' heads, too.
Posted by: Dack Thrombosis at May 06, 2010 11:19 AM (P33XN)
Posted by: damian at May 06, 2010 11:20 AM (4WbTI)
82 It is almost like democrats WANT to break they system.
It's almost like brown bears want to eat hunny and drop poopy in the forest.
Posted by: Zimriel at May 06, 2010 11:20 AM (9Sbz+)
Short-term savings now are almost pointless. Money markets are below 1% return. Interest-bearing checking accounts and passbook accounts likewise. T-Bills are paying zero. In short: you might as well spend your money, because there's no real profit in investing it right now. Contrarily, debt is cheap if you have good credit, so why not take on cheap debt while you can?
We are so boned.
I have a money market account worth 1.28% and i feel lucky about it. How sad.
oh and i just bought a house, so i am taking advantage of the cheap debt.
Posted by: Ben at May 06, 2010 11:20 AM (wuv1c)
Posted by: bill at May 06, 2010 03:16 PM (X/Ydd)
Hey... shut up!
Posted by: Cloward & Piven at May 06, 2010 11:21 AM (VhQM1)
Posted by: reason at May 06, 2010 11:21 AM (q/kmn)
"Hold on Ben...
(to his Caddy) - 'What do you think?'
Caddy says go with the Driver off the Deck, Ben.
"Listen. I've got a tough putt to save par, here. I need to focus like a Laser on this or my Presidencial Handicap will suffer.
Throw a bunch of that money from my Stash at this and I'll get to it after my One on One, Round Robin Tourney with Justice.
We're gonna wipe the floor with that Uncle Tom Holder and his Yale boys...Peace Out!"
Posted by: Obama, on his phone at May 06, 2010 11:21 AM (vDuR7)
Shouting, stuttering and almost visible throbbing neck veins on msnbc, combined with a split screen of night time street riots in Greece.
Holy shit.
Posted by: Who Knows at May 06, 2010 11:21 AM (7FgWm)
You people worry too much. Haven't you paid attention, these past 18 months? There's a new hand at the tiller, over at 1600 Penn Ave.
President Wrongway Peachfuzz has things under control. As long as there's ink left to print money with, or electrons to inflate computer-accounts with, Wrongway has us covered.
The only thing we have to fear is, fear itself.
And spiders.
And Nancy Pelosi (same thing, when you get right down to it...).
Posted by: RobM1981 at May 06, 2010 11:22 AM (lV1tZ)
I was thinking of selling off 2 weeks ago and start shorting. I am mad i didn't.
Not your fault, Ben--they were cock-teasing a bailout for months that goosed the DJIA above 11K, and then when the foundation for the bailout was revealed last weekend, reality finally set in that there was no way in hell to prevent Greece from coming back to the trough in 2-3 years. Not to mention that the rest of the PIIGS are in the same boat.
One could argue that they should have just let Greece default, but then they never should have allowed Greece in the EU to begin with, since the Greeks basically lied about their financial stability in order to be accepted.
Posted by: David Axelrod's Combover at May 06, 2010 11:22 AM (/Pw+r)
All right, California morons. We discussed the air lift the other day.
We're firing up the chopper right now. Look for the helicopter with a painting of an ewok eating a unicorn on it.
Run for the chopper! Run for the chopper!
Posted by: Dack Thrombosis at May 06, 2010 11:23 AM (P33XN)
Posted by: Barack Obama at May 06, 2010 11:24 AM (k7Ddt)
Posted by: George Soros at May 06, 2010 11:24 AM (jmf9+)
reason:
Don't bail on the 401(k)! Long-term, the stock market is still your best bet for a good return. It's just the short-term stuff that sucks right now. In fact, if you have money and patience, it might not be a bad idea to buy into some equities: lots of them are almost certainly way undervalued. I'm not enough of a stocks guy to be intelligent about it (and I'm too lazy to research it), so I'm not going to buy for myself; but there's opportunity there for people who are smarter than me.
Short term? Cash is king. If you've got a big-ticket item to finance, now would probably be as good a time as any to do it -- debt is as cheap as it's going to get, barring unforseen circumstances.
Posted by: Monty at May 06, 2010 11:25 AM (4Pleu)
Posted by: KF at May 06, 2010 11:25 AM (ytCsK)
The Dow tanking will really help those "profits and earnings" ratios.
Posted by: Barry Obama at May 06, 2010 11:25 AM (qL730)
Dack Thrombosis....I'm sending up a flare so you won't miss me.
Or I'll have to make it like the evacuation of the American embassy in Vietnam.
Posted by: Who Knows at May 06, 2010 11:26 AM (7FgWm)
it'sth not Freddieths or Fannieths faultth!
Posted by: Barney Frank at May 06, 2010 11:28 AM (yCH89)
Can I have my juicebox now, Mr Axelrod?
Posted by: two snaps up dragon at May 06, 2010 11:28 AM (sYxEE)
I'm thinking the same thing. I'm currently buying a house so I can withdraw for that but am afraid the pricks will just tax me out of that later.
Posted by: Buzzsaw at May 06, 2010 11:28 AM (tf9Ne)
Posted by: Barack Obama at May 06, 2010 11:28 AM (k7Ddt)
Posted by: beerologist at May 06, 2010 11:28 AM (tgXx6)
Posted by: Ben at May 06, 2010 11:29 AM (wuv1c)
They supported the house of cards with toothpicks, but Barry's spending put a brick on top.
I hope it doesn't just fall apart, like maybe it should. But this does show how fast it could all happen ... stocks or currency, when the big boys bail, the rest are left in the lurch.
Posted by: bill at May 06, 2010 11:31 AM (X/Ydd)
Posted by: Ben at May 06, 2010 11:31 AM (wuv1c)
Posted by: fartbubble at May 06, 2010 11:31 AM (gAmQ1)
Posted by: Barack Obama at May 06, 2010 11:33 AM (k7Ddt)
Posted by: Waterhouse at May 06, 2010 11:33 AM (4OL2Z)
SEC, if I was in any of that, you better make it up to me.
I'm casting for a "bottom" in a new video I'm producing... a little gay musical with the provisional title "The Dripping Barbs Of Lucifer".
Posted by: Jenna Jameson at May 06, 2010 11:33 AM (9Sbz+)
My brother did that a couple months ago. He just called. He's a happy man.
Posted by: Herr Morgenholz at May 06, 2010 11:33 AM (5aa4z)
It's all inside sports.
Posted by: mitchellvii@yahoo.com at May 06, 2010 11:33 AM (kEBiX)
Admit it, you crossed the streams at 2:40.
Posted by: Waterhouse at May 06, 2010 11:34 AM (4OL2Z)
Posted by: Larry Kudlow at May 06, 2010 11:36 AM (sYxEE)
Posted by: reason at May 06, 2010 11:36 AM (q/kmn)
Posted by: CUS at May 06, 2010 11:36 AM (wOGfT)
Our trading software cannot manipulate the markets!
(unless you're a Russian that stole the code, then we'll get every law enforcement officer on teh planet after your ass, on the fear that you might "manipulate the markets")
Posted by: Goldman Sacks o' Dough at May 06, 2010 11:37 AM (UaxA0)
Posted by: kbdabear at May 06, 2010 11:37 AM (sYxEE)
See the chart on drudge. perfect dead. cat. bounce. I give it a 9.8.
Posted by: B. Obullshit at May 06, 2010 11:38 AM (7VvJB)
Posted by: Dirk Diggler at May 06, 2010 11:38 AM (jmf9+)
There are so many ways these guys can screw people.
Posted by: bill at May 06, 2010 11:39 AM (X/Ydd)
Posted by: kbdabear at May 06, 2010 11:39 AM (sYxEE)
Posted by: Comrade Arthur at May 06, 2010 11:39 AM (4Irul)
Posted by: WalrusRex at May 06, 2010 11:40 AM (xxgag)
150 Look for the criminal investigation of Goldman Sachs to be quietly dropped in the coming days.
Perceptive.
Ignore that rustling outside your window. Oh, that creak on the floor, just the house settling.
Posted by: s'moron at May 06, 2010 11:40 AM (UaxA0)
The bailout of Greece is probably what has people worried.
Partly.Another aspect is Demint (and Sanders!) have an "audit the fed" provision in the financial reform bill. Some say a message is being sent to the politicians.
Look for that amendment (provision?) being stripped from the bill next week.
Posted by: Derak at May 06, 2010 11:41 AM (AbX8n)
Run for the chopper! Run for the chopper!
Posted by: Dack Thrombosis at May 06, 2010 03:23 PM (P33XN)
With their Governator, it's "GET TO DA CHOPPAH~!"
Posted by: Brandon In Baton Rouge at May 06, 2010 11:41 AM (S/HSv)
Posted by: Darth Sidious at May 06, 2010 11:41 AM (9Sbz+)
Posted by: Larry Kudlow at May 06, 2010 03:36 PM (sYxEE)
Not convincing enough dammit.
You're contract clearly stipulates you will jump up and down, use the noisemakers, and repeatedly declare a "V-shaped recovery! V-shaped recovery!"
Posted by: Larry's CNBC task-masters at May 06, 2010 11:41 AM (VhQM1)
Posted by: nickless at May 06, 2010 11:42 AM (MMC8r)
Posted by: Financial Indicators at May 06, 2010 11:43 AM (yCH89)
Posted by: Congressional Stock Brokers at May 06, 2010 11:44 AM (sYxEE)
I hate Kudlow with the heat of 1000 suns for having the temerity to call himself conservative when he's just a pure shill for the corporatist state.
And I hate our culture even more that I have to use lefty language to describe how what these assholes are doing is anti-American to the core.
Posted by: s'moron at May 06, 2010 11:44 AM (UaxA0)
Posted by: Goldman Sachs at May 06, 2010 11:45 AM (jmf9+)
Requiring everyone to fund a bailout fund for the risky players ... priceless.
Posted by: bill at May 06, 2010 11:46 AM (X/Ydd)
Damn, what is DeMint thinking. Shit like that gives the squishies a beard.
That bill is a worthless POS.
Posted by: Vic at May 06, 2010 11:46 AM (QrA9E)
Posted by: WalrusRex at May 06, 2010 11:47 AM (xxgag)
169 So, centerfire or rimfire?
That's like saying chocolate or peanut butter.
Why not both. Just don't expect much use out of the centerfire past about 12 months if there's any real trouble
Posted by: s'moron at May 06, 2010 11:48 AM (UaxA0)
Didn't P&G lose a contract or something recently?
3M...also dropped $38 bucks...
What the heck is going on?
Posted by: curious at May 06, 2010 11:49 AM (p302b)
172 excuse me! Posted by: Invisible Hand
That's sarcasm, right?
Transparent fraud by the gov't =/= invisible hand
Posted by: s'moron at May 06, 2010 11:49 AM (UaxA0)
Posted by: thethinman at May 06, 2010 11:50 AM (W3XUk)
Something on Hannity about "human error" and "pushing B instead of M?"
Posted by: ParisParamus at May 06, 2010 11:50 AM (lf/rr)
Posted by: B+rry Ob+mao at May 06, 2010 11:51 AM (tSxta)
CNBC says human error caused the drop today because a trader hit a B instead of an M.
Anybody buying that one?
Posted by: Guy Fawkes at May 06, 2010 11:51 AM (7VvJB)
Posted by: Drew in MO at May 06, 2010 11:51 AM (j6r2e)
I mean you really can't stuff your head any farther up your ass than NPR.
Jesus Marion and Joseph
Posted by: MelodicMetal at May 06, 2010 11:52 AM (x4S2a)
Posted by: US Senate Committee on Banking, Housing and Urban Affairs at May 06, 2010 11:53 AM (w9bVp)
That's their story and they're sticking to it. All is wonderful, just a flesh wound. BUY BUY BUY BUY, V shaped recovery, snapdragon can come out from under his desk
Posted by: kbdabear at May 06, 2010 11:53 AM (sYxEE)
If the P&G mistake really did set this off, it just shows how skittish everyone is. I had a feeling that a lot of the market upswing in the last several months was fantasy -- we're probably due for a pretty brutal correction now. Don't be suprised to see the Dow going to 9K and staying there for awhile, especially if the EU hairball gets worse (which it is all but certain to do).
Posted by: Monty at May 06, 2010 11:53 AM (4Pleu)
"Savers and Baby Boomers are getting fucked."
For the first time in my adult life, I am oddly relieved that I am currently up to my neck in debt. Manageable debt...barely...but manageable, and with bupkus in savings.
I am on the over side, but 1/3 in cash, no mortgage, lots of recurring expenses, which are really getting old.
Manageable debt? That can come back to bite you in the ass, if you lose your income.
I got to stop living like I was still making the big bucks, but it's hard to give up that crack, whores and Valu rite.
Posted by: Kemp at May 06, 2010 11:53 AM (2+9Yx)
CNBC says human error caused the drop today because a trader hit a B instead of an M.
Anybody buying that one?
I'm not sure if that's true or not, but anyone watching market activity probably had a spontaneous BM after seeing those numbers.
Posted by: Brandon In Baton Rouge at May 06, 2010 11:53 AM (S/HSv)
Just called my mom and texted my sister that they should stock up on food and meds. I've had a weird hunch thing going for a couple days now; this just put it over the edge.
Whoof.
Posted by: Joanna at May 06, 2010 11:54 AM (HaYO4)
HEY, HERE'S A GOOD ONE:
CNBC says human error caused the drop today because a trader hit a B instead of an M.
Anybody buying that one?
Sounds like some BM to me
Posted by: Ben at May 06, 2010 11:55 AM (wuv1c)
Posted by: WalrusRex at May 06, 2010 11:55 AM (xxgag)
Posted by: shoey at May 06, 2010 11:55 AM (yCH89)
187 V shaped recovery, snapdragon can come out from under his desk
I dunno, he's quite used to it down there...
Posted by: Zimriel at May 06, 2010 11:55 AM (9Sbz+)
Posted by: Guy Fawkes at May 06, 2010 11:56 AM (7VvJB)
Posted by: Hobo at May 06, 2010 03:55 PM (mMdWG)
Good thing you didn't post that yesterday. It would've been a hate crime.
Posted by: WalrusRex at May 06, 2010 11:56 AM (xxgag)
Posted by: Keith Oberman at May 06, 2010 11:57 AM (k7Ddt)
Both.
You'll need centerfire for its stopping power until the initial chaos subsides.
Those who survive this period will likely know that getting stung by a rimfire can easily be a death sentence without modern antibiotics and medical care.
Posted by: MikeO at May 06, 2010 11:57 AM (lBmZl)
Ah. So barring that trader error, the stock market would have only tumbled 300 or so points on sovereign debt worries.
I'm so relieved. Happy days are here again.
Posted by: Dirk Diggler at May 06, 2010 11:57 AM (jmf9+)
I'd like a bit more explanation on this scenario. What was he offering to sell a billion shares in?
Posted by: damian at May 06, 2010 11:58 AM (4WbTI)
I want to know who did this, what firm, and show me the evidence.
Posted by: Miss Marple (redneck teabagger) at May 06, 2010 11:58 AM (xxe/9)
I think we found our something.
Posted by: shibumi at May 06, 2010 11:59 AM (OKZrE)
Proctor and Gamble, apparently, as that stock had a mysterious 20 point hit and then recovered to its original price.
Posted by: Brandon In Baton Rouge at May 06, 2010 11:59 AM (S/HSv)
This seems like a lame reason to me.
SHOW ME THE EVIDENCE.
Posted by: Miss Marple (redneck teabagger) at May 06, 2010 11:59 AM (xxe/9)
I'd like a bit more explanation on this scenario. What was he offering to sell a billion shares in?
Pampers and Depends futures, I assume
Posted by: Zimriel at May 06, 2010 12:00 PM (9Sbz+)
Posted by: DrewM. at 03:52 PM
Yeah, he wasn't elected President of the Galaxy, the Supreme Court of the Galaxy appointed him!!!!!11!111eleventy!!11!!
Posted by: Typical Moonbat at May 06, 2010 12:00 PM (VhQM1)
Posted by: Wolf Blitzer at May 06, 2010 12:00 PM (k7Ddt)
Posted by: damian at May 06, 2010 12:00 PM (4WbTI)
Posted by: Herr Morgenholz at May 06, 2010 12:00 PM (5aa4z)
Posted by: Guy Fawkes at May 06, 2010 12:00 PM (7VvJB)
Posted by: shibumi at May 06, 2010 03:14 PM (OKZrE)
Wait until 2012....Kratos is gonna think he died and went to heaven.
Posted by: torabora at May 06, 2010 12:01 PM (tSxta)
Posted by: Gordon Gekko at May 06, 2010 12:01 PM (qL730)
This wouldn't have happened if we didn't have a giant imperial navy....
Posted by: Moltke at May 06, 2010 12:01 PM (VmtE9)
March 24 (Bloomberg) -- Soros Fund Management LLC bought $38 million in claims on bankrupt Lehman Brothers Holdings Inc. from Goldman Sachs Group Inc., according to court filings @ businessweek
does this mean Goldman and Soros are doing hostile mergers country to country? did they short Greece ?
Posted by: granny willow at May 06, 2010 12:01 PM (7FgWm)
The worst is yet to come. Right now the brain trust on Capitol Hill is scrambling to 'do something' about this.
Harumph! Harumph! We must do something about this! Harumph!
Posted by: Count Chocula at May 06, 2010 12:02 PM (uFokq)
Posted by: Pigman Waxman at May 06, 2010 12:02 PM (sYxEE)
LOL
He's right the shit tastes awful. Last time I had a Pabst, was at graduation party at OD (That's Ocean Drive for you Yankees). It was the cheapest shit they had. After I puked up a case or two, I stopped drinking the shit. That was er, a long long time ago, think Nixon is the One.
Even today, the smell of that shit makes me gag.
Posted by: Kemp at May 06, 2010 12:02 PM (2+9Yx)
Posted by: WalrusRex at May 06, 2010 12:02 PM (xxgag)
Posted by: Dow Jones at May 06, 2010 12:03 PM (yCH89)
Obama said he wanted to 'end the cycles of bubbles & bursts' in the stock market. In other words, communism where nobody wins and nobody loses (ideally).
So expect Obama to *use* to *push* through his shitty regulation reform.
Posted by: Count Chocula at May 06, 2010 12:03 PM (uFokq)
Posted by: HeatherRadish at May 06, 2010 12:04 PM (mR7mk)
Posted by: Wolf Blitzer at May 06, 2010 12:04 PM (k7Ddt)
Posted by: East Bay Jay at May 06, 2010 12:04 PM (ocHBO)
Posted by: Dan at May 06, 2010 12:05 PM (1jzSs)
I was hoping that Spiderman Vol 7, issue 3 would go up 10 percent, I need to cover my bandwidth bill
Posted by: Charles Comic Bookstore Johnson at May 06, 2010 12:05 PM (sYxEE)
Posted by: DJIA at May 06, 2010 12:05 PM (4WbTI)
BTW, the webbot dudes put in a warning for 'something' to happen May 6th.
Anyting from the Mayan calendar about May 7th?
Posted by: Circa (Insert Year Here) at May 06, 2010 12:05 PM (B+qrE)
Posted by: Hairplugs Biden at May 06, 2010 12:05 PM (2+9Yx)
NEW YORK (MarketWatch) -- U.S. stocks fell Wednesday, extending Tuesday's slide as worries over the euro-zone debt crisis continued to rattle investors, although technical factors helped limit the losses.
Translation: The TBTFs computers started trading their respective firms' worthless junk back and forth with each other at slightly higher levels in each transaction.
Posted by: David Axelrod's Combover at May 06, 2010 12:06 PM (/Pw+r)
Posted by: Zimriel at May 06, 2010 12:06 PM (9Sbz+)
Posted by: kbdabear at May 06, 2010 12:06 PM (sYxEE)
A similar but different rumor (I think) says the error was caused by "M" for million being written instead of "B" for billion (or the other way 'round)...
As I tell my kids... In the age of computers, spelling counts more than ever!
Posted by: KLL at May 06, 2010 12:06 PM (/5Axw)
Posted by: Lincontf at May 06, 2010 12:07 PM (qSRHZ)
Dow down 348 and S&P down 38 points for the day.
Posted by: Retread at May 06, 2010 12:07 PM (WRjxx)
Posted by: Drew in MO at May 06, 2010 12:08 PM (j6r2e)
Posted by: Jack Meehoph at May 06, 2010 12:08 PM (k7Ddt)
Posted by: joncelli at May 06, 2010 12:09 PM (RD7QR)
Posted by: Hedge Fund Manager at May 06, 2010 12:09 PM (yCH89)
Posted by: Andrew Sillyvan at May 06, 2010 12:09 PM (9Sbz+)
How much of Citigroup does the federal government still own?
Posted by: HeatherRadish at May 06, 2010 12:09 PM (mR7mk)
Posted by: kbdabear at May 06, 2010 04:06 PM
Blue Horseshoe loves Andicott Steel
Posted by: Bud Fox at May 06, 2010 12:10 PM (sYxEE)
Posted by: Randolph at May 06, 2010 02:58 PM (vDuR7)
You sir, have won one internets, please stop at the window and collect your prize.
Posted by: Unclefacts, AoSHQ Professional Debate Team at May 06, 2010 12:10 PM (erIg9)
Spartan.
There will be no more complaining.
Posted by: Arbalest at May 06, 2010 12:10 PM (BqSr3)
Posted by: Citigroup Trading Platform at May 06, 2010 12:10 PM (4OL2Z)
If a short order goes in for 16 BILLION of P&G stock, the market's going to find out about it and react accordingly.
All I'm saying is that the reason for the crash is probable. More interesting is the question of the bounce.
Posted by: s'moron at May 06, 2010 12:10 PM (UaxA0)
261 an ancient, revered and thoroughly Greek lifestyle: Spartan.There will be no more complaining.
We're screwed either way, anyway.
Posted by: Little boys at May 06, 2010 12:11 PM (9Sbz+)
Yep. Too lazy to look but around 3:00 there had been about 350M shares in trading volume. That's 25% of what volume was back when we had, you know, actual investors.
3 PM is program trading time. On the dot.
Posted by: Herr Morgenholz at May 06, 2010 12:11 PM (5aa4z)
Also, Greece may be a symptom but it certainly can't be blamed as a cause. Greece's economy ceasing up completely wouldn't cause a ripple in this economy.
It's debt. That's the problem. It caused the crash in '08 and all of the talk of recovery by this administration is not going to fix it.
Look out for TARP II because if they hit that reset button the dollar is toast (jmio)
Posted by: Hussein the Plumber at May 06, 2010 12:12 PM (RkRxq)
Posted by: auinsc at May 06, 2010 12:13 PM (EI1Mm)
Posted by: Retread at May 06, 2010 12:13 PM (+QRP2)
Posted by: s'moron at May 06, 2010 04:10 PM
I didn't see nothin'
Posted by: Bubble Ben Bernanke at May 06, 2010 12:13 PM (sYxEE)
Posted by: Lincontf at May 06, 2010 12:13 PM (qSRHZ)
Posted by: Jack Meehoph at May 06, 2010 12:14 PM (k7Ddt)
This was not my fault!
Posted by: E-Trade Baby at May 06, 2010 12:14 PM (VhQM1)
Tom Clancy's crystal ball strikes again.
Posted by: IllTemperedCur at May 06, 2010 12:15 PM (ZSVyF)
Posted by: Porn Starlets Local 317 at May 06, 2010 12:15 PM (mR7mk)
ya know, the word "Recovery" itself is very mysterious, ordinary folks should be free from worrying about what it means.
freedom "from" that's what we're talkin' 'bout 
Posted by: Obama Administration at May 06, 2010 12:15 PM (yCH89)
Posted by: fb at May 06, 2010 12:15 PM (G60Nl)
Posted by: FUBAR at May 06, 2010 12:15 PM (1fanL)
Grammar and spelling count, class.
Posted by: Filly the Writing Teacher at May 06, 2010 12:15 PM (dSJW9)
Well, there is an upside to this, believe it or not. Imagine how screwed we'd be if the dollar weren't the world's reserve currency. (Of course, we wouldn't have been able to dig our hole quite so deep and wide had we not had the world's money to fund the digging, either.)
Posted by: Monty at May 06, 2010 12:16 PM (4Pleu)
Posted by: Al Sharpton at May 06, 2010 12:16 PM (k7Ddt)
Posted by: Bernie Madoff at May 06, 2010 12:18 PM (k7Ddt)
Posted by: Circa (Insert Year Here) at May 06, 2010 12:18 PM (B+qrE)
Posted by: robtr at May 06, 2010 12:20 PM (fwSHf)
Posted by: Mike Hunt at May 06, 2010 12:20 PM (k7Ddt)
Grammar and spelling count, class.
Words matter!
Posted by: Professor Jesus Obama at May 06, 2010 12:20 PM (CfmlF)
Wonder if they are going to try to unwind some of these trades.
Posted by: curious at May 06, 2010 12:21 PM (p302b)
Posted by: Jack Meehoph at May 06, 2010 12:21 PM (k7Ddt)
Feb. 17 (Bloomberg) -- Firms run by John Paulson Eric Mindich and George Soros purchased almost half a billion shares in Citigroup Inc. last quarter as more than 120 hedge funds said they bought stock in the bank.
Paulson & Co. reported a stake equal to 506.7 million shares in New York-based Citigroup, up from about 300 million at the end of the third quarter, according to a government filing yesterday. MindichÂ’s Eton Park Capital Management LP acquired 138 million shares, making the company its largest holding. Soros Fund Management LLC reported 94.7 million shares worth $313.4 million, a filing showed.
Investors may be betting on a rebound in Citigroup after it lost as much as 94 percent of its value during the credit crisis. The purchases came in the same quarter that the third- largest U.S. financial company sold more than 5 billion new shares to help repay government bailouts
CNBC is naming Citigroup as screwing up trading.
Dow down 348 and S&P down 38 points for the day.
Posted by: Retread at May 06, 2010 04:07 PM (WRjxx
Posted by: granny willow at May 06, 2010 12:21 PM (7FgWm)
see we told you... this Dow Jones guy is gonna have to be "regulated" with extreme prejudice!
Posted by: Obama Administration at May 06, 2010 12:21 PM (yCH89)
Posted by: robtr at May 06, 2010 04:20 PM (fwSHf)
If you look at the daily trends across the top it shows a daily low of $39.37.
Posted by: G. Gordon Liddy at May 06, 2010 12:21 PM (aKBPe)
What the fuck happened?
Jewish banking conspiracy?
Teabaggers?
Goldman Sachs?
ALL OF THE ABOVE COMBINED?!??!
Posted by: Sir Elliot at May 06, 2010 12:22 PM (DUNS7)
so who made the money? and who lost?
Posted by: curious at May 06, 2010 12:22 PM (p302b)
btw, today is a great day to listen to Jerry Doyle's radio show -- the man is very smart when it comes to this stuff.
Posted by: Count Chocula at May 06, 2010 12:23 PM (uFokq)
Posted by: robtr at May 06, 2010 04:20 PM (fwSHf)
CNBC said NYSE told them that they only had P&G falling to 56. I feel secure, how about you people.
Posted by: FUBAR at May 06, 2010 12:23 PM (1fanL)
Posted by: BP at May 06, 2010 12:25 PM (8OTio)
Posted by: G. Gordon Liddy at May 06, 2010 04:21 PM (aKBPe)
Yeah that's because the low was 39.37. It just didn't happen on the NYSE as shown on the chart.
Posted by: robtr at May 06, 2010 12:26 PM (fwSHf)
You, sir, better be knocking on a piece of wood the size of the USS Eisenhower.
Posted by: Garbonzo the Garrulous at May 06, 2010 12:28 PM (zgd5N)
Posted by: George Orwell at May 06, 2010 12:40 PM (AZGON)
Posted by: granny willow at May 06, 2010 12:43 PM (7FgWm)
Posted by: Sam at May 06, 2010 12:43 PM (Cxsey)
Posted by: AnonymousDrivel at May 06, 2010 12:46 PM (swuwV)
"million vs. billion"
Apparently, I did not enunciate the difference between these two words clearly enough...
Posted by: zombie Carl Sagan at May 06, 2010 12:46 PM (F26eZ)
Posted by: maddogg at May 06, 2010 12:47 PM (OlN4e)
Posted by: Porn Starlets Local 317 at May 06, 2010 12:47 PM (mR7mk)
Posted by: Delta Smelt at May 06, 2010 12:48 PM (8OTio)
Posted by: Sheriff Joe Biden at May 06, 2010 12:48 PM (AZGON)
No, they've just all headed to their off-the-grid cabins.
Posted by: Waterhouse at May 06, 2010 12:48 PM (4OL2Z)
Posted by: Rahm Emanuel, A-hole Emeritus at May 06, 2010 12:49 PM (swuwV)
What the fuck happened?
Jewish banking conspiracy?
Teabaggers?
Goldman Sachs?
ALL OF THE ABOVE COMBINED?!??!
Posted by: Sir Elliot at May 06, 2010 04:22 PM (DUNS7)
You missed one. George W. Bush. It and everything else is all his fault.
Posted by: TheQuietMan at May 06, 2010 12:49 PM (1Jaio)
Posted by: George Soros at May 06, 2010 12:49 PM (yCH89)
You know what I'd like to know?
Who bought P&G stock when it was "accidentally" down 20?
If someone just so happened to do so, since it was an "accident," do they get the sale (and potentially incredible profits) nullified?
Don the tin-foil hat and ponder how awex0me it would be to know that you could sieze on a stock that was sure-fire going to have a 20-point swing over the course of an hour. Somebody needed to get rich quick today.
Posted by: reason at May 06, 2010 12:49 PM (F26eZ)
Posted by: curious at May 06, 2010 12:49 PM (p302b)
But the market was still down big and has some fragility
Posted by: bill at May 06, 2010 12:50 PM (X/Ydd)
Shall we play a game?
Posted by: Joshua (Which apparently now can be found executing trades at Citibank) at May 06, 2010 12:51 PM (jmf9+)
That and Candian, Australian or Swiss currency. Cold and hard and in physical possession. That bit of advice from John Williams, Shadowstats.
Posted by: Derak at May 06, 2010 12:51 PM (AbX8n)
Look at Apple...
in fact almost every stock. If you had a sell program set to go at a certain level you were stomped out and if you were fortunate enough to have a buy in at around that same level you were lucky.
At one point apple went to 199 a share. Gotta say, there wasn't even enough time to pick up the phone and call your broker so if you weren't trading on a computer things went too fast.
Posted by: curious at May 06, 2010 12:52 PM (p302b)
Small economy is small economy, no way around it.
How about a DJIA of zero?
Or is this only bad to you because it is your precious capitalism?
Posted by: suckdragon at May 06, 2010 12:52 PM (F26eZ)
OT-
Lunch Bunch is a weekly arrangement for ONLY African American kids to have free pizza, the boys go to the gym to play basketball and the girls go to the art room for activities. All non-blacks are forbidden to participate. There has never been communication to parents on the purpose of Lunch Bunch. To the kids, it means that every single week the black kids get a special opportunity for a pizza and basketball party.
Posted by: the peanut gallery at May 06, 2010 12:53 PM (NurK6)
Posted by: Proctor & Gamble at May 06, 2010 12:54 PM (AZGON)
SEIU/ACORN pension funds? Where's Stern?
You can forget the California gov't though. CA bureaucrats have more than enough evil intent to do this, but not nearly enough smarts.
Posted by: IllTemperedCur at May 06, 2010 12:55 PM (ZSVyF)
So...we should create oversight and programs when commercial entities wreck the economy.
But...we give a pass to a debt-ridden, overspending Greek government that has over extended itself...to wreck the economy.
Posted by: Ministry of Fiction at May 06, 2010 12:56 PM (F8sIP)
Posted by: Brendan at May 06, 2010 12:56 PM (saRwI)
Posted by: Sasquatch & Davenport at May 06, 2010 12:57 PM (AZGON)
Posted by: Guy Fawkes at May 06, 2010 12:57 PM (7VvJB)
These are the kinds of things that white supremacist groups love, because they know those kids will be recruiting material in a few years. But dumbasses who run our schools have fancy degrees and can't figure that out
Posted by: kbdabear at May 06, 2010 12:57 PM (sYxEE)
"Gotta say, there wasn't even enough time to pick up the phone and call your broker so if you weren't trading on a computer things went too fast."
Exactly. If you were using a computer, and had your buy already set. Or if you knew something uncommon, unexpected, and potentially very lucrative was going to happen today...like the person who "accidentally" hit B instead of M, and/or some of his good buddies and/or someone to which he just so happens to owe a lot of money...
*opens another roll of tin-foil* Anybody else want a hat?
Posted by: suckdragon at May 06, 2010 12:58 PM (F26eZ)
Posted by: Derak at May 06, 2010 12:58 PM (AbX8n)
Sure, mistakes happen, but as others have pointed out, given the drop off what caused the sudden rise? And the convenient mistake only accounts for some of the drop off, the market was falling before the mistake happened. And it is being blamed on Citi, who has stakes in Citi?
Seriously, am I even really being paranoid enough anymore? Or maybe it is not paranoid at all. Maybe I should change my screen name to “RealityBasedGirlInSeattle.”
Posted by: ParanoidGirlInSeattle at May 06, 2010 12:58 PM (RZ8pf)
I had a 21 year horizon. After 11 years, 1999-2010, the market had lost 5% and so had I. I looked ahead at runaway currency and savings dilution via dollar printing, saw nothing but increased taxes and future inflation once I do draw it- and virtually no chance of my investments doubling in 10 years.
The answer was simple. Take the 10% penalty or let the pricks steal the money via inflation, taxes, and the great lie that the market always goes up. Fuck investment bankers, economists, talking heads, and CNBC. Fuck the Marxist. All that worry over 10k. Best money I spent. Hows my ass taste?
Posted by: Man who deviated from "conventional" wisdom and sleeps at night at May 06, 2010 12:58 PM (uFdnM)
Posted by: Jane D'oh at May 06, 2010 12:59 PM (UOM48)
Nevermind the girls who want to play basketball and the boys who want to paint...if they're taking the black kids out of class to play while the white kids learn, they're just perpetuating that achievement gap.
And the link didn't work.
Posted by: HeatherRadish at May 06, 2010 12:59 PM (mR7mk)
Say Darnell, have you ever seen a grown man naked?
Posted by: Capt Oveur at May 06, 2010 01:00 PM (sYxEE)
Posted by: Jane D'oh at May 06, 2010 01:00 PM (UOM48)
Wall Street: The Smartest Guys In The Room
Again.
Must be all those smart guys from the Ivy League.
Posted by: Samuel Adams at May 06, 2010 01:00 PM (nxUYP)
Posted by: joncelli at May 06, 2010 01:01 PM (RD7QR)
348 Let me get this straight. A trader can go short on the dow, "accidentally" hit B instead of M, cash out and say whoops. If that is possible, why would anybody be in the market.
Posted by: Guy Fawkes at May 06, 2010 04:57 PM (7VvJB)
Cuz yer stupid, and easily led.
Posted by: Goldman Sucks at May 06, 2010 01:01 PM (UaxA0)
Posted by: Reggie Hammond at May 06, 2010 01:02 PM (4Kl5M)
Yeah, except there are no white supremacist groups. Just a bunch of FBI "infiltrators" spying on each other. Seriously, you read this and your immediate concern is "Oh no, this will turn these kids into white supremacists"?
Posted by: the peanut gallery at May 06, 2010 01:02 PM (NurK6)
Posted by: Jane D'oh at May 06, 2010 01:03 PM (UOM48)
See, in the minds of leftists, unfettered borrowing and spending leads to massive prosperity, and cuts in government programs leads to massive business failure
Posted by: kbdabear at May 06, 2010 01:03 PM (sYxEE)
Posted by: the peanut gallery at May 06, 2010 01:05 PM (NurK6)
Posted by: robtr at May 06, 2010 01:05 PM (fwSHf)
Posted by: Man who deviated from at May 06, 2010 01:05 PM (uFdnM)
Posted by: the peanut gallery at May 06, 2010 05:02 PM
Probably not, they'll go into Goth cults. You don't see many black kids with mime makeup and Goth clothes
Posted by: kbdabear at May 06, 2010 01:06 PM (sYxEE)
Posted by: Jane D'oh at May 06, 2010 05:03 PM (UOM4
Number 6 for the Boston Lager. Fuck it, I mowed the lawn and cleaned the garage today, I'm allowed.
Posted by: Samuel Adams at May 06, 2010 01:06 PM (nxUYP)
Posted by: Guy Fawkes at May 06, 2010 01:06 PM (7VvJB)
373 I am holding my position
Stop being a jackass. I bought gold last August and am doing fine. You don't see me prancing around like a damn fairy about how wonderful I am. Wat are you BHO's more narcissistic brother?
Posted by: s'moron at May 06, 2010 01:07 PM (UaxA0)
Posted by: Grover Fucking Cleveland at May 06, 2010 01:08 PM (AZGON)
Posted by: Pecos Bill at May 06, 2010 01:09 PM (8WOM0)
@371 - That's a real nice independent investment portoflio you've got there. Be a shame if something were to happen to it...
Posted by: BHO, who has absolutely no ambition of nationalizing Wall Street...none... at May 06, 2010 01:09 PM (F26eZ)
"Rolf IRA."
I diversified into a Beaker & Bunsen MMEEP.
LMAO over here. Thanks, I needed that.
p.s. Jane D’oh, you sure you don’t have a “Roth IRA instead?”
Posted by: ParanoidGirlInSeattle at May 06, 2010 01:10 PM (RZ8pf)
Posted by: Grover Fucking Cleveland at May 06, 2010 05:08 PM (AZGON)
You're a pussy Grover. I also got shot but was bad enough to finish my speech.
Posted by: Teddie Roosevelt. at May 06, 2010 01:11 PM (nxUYP)
I bet internet traffic number had quite the graph today too.
Is it a coincidence that a lot of websites, including this one, have been briefly broken today? Hmm.
Posted by: ParanoidGirlInSeattle at May 06, 2010 01:11 PM (RZ8pf)
So, about those 401k's we were talking about taking over yesterday, they're not worth so much today, are they?
Posted by: Slow Joe at May 06, 2010 01:12 PM (UaxA0)
Sorry, our bad. It was a fucked up day so we decided to just say fuck it and started watching X-Tube and Pornhub. I guess if you get enough of us Gov't workers watching pron it tends to fuck up the intertubes.
Posted by: Ted, from the SEC. at May 06, 2010 01:13 PM (nxUYP)
They're worth enough.
Posted by: Juan Perón at May 06, 2010 01:14 PM (mR7mk)
I found that Ann Arbor story at another location. From what they said it was a one-time shot and the principle apologized and said he wasn't thinking.
Posted by: Mitt at May 06, 2010 01:14 PM (QrA9E)
Posted by: the peanut gallery
Evil websearch company's cached page.
Posted by: Garbonzo the Garrulous at May 06, 2010 01:15 PM (zgd5N)
Somebody got really rich today?
and a whole lot of people lost a ton of money not being able to cover their stops.. all machine trading
Posted by: The Great Satan's Ghost at May 06, 2010 01:15 PM (MMsBe)
"You don't see many black kids with mime makeup and Goth clothes"
We're there. We just cover ourselves in talc.
Posted by: some black goth kid at May 06, 2010 01:15 PM (F26eZ)
Posted by: Voyage to the Bottom of the Sea at May 06, 2010 01:16 PM (90oki)
Posted by: Jane D'oh at May 06, 2010 01:17 PM (UOM48)
Posted by: Vic at May 06, 2010 01:18 PM (QrA9E)
Posted by: Mitt
Not quite. The field trip was a single event but the lunches with free food was weekly. Read the comments for a better report from a parent.
Posted by: Garbonzo the Garrulous at May 06, 2010 01:19 PM (zgd5N)
The comments are a riot. "This is exactly like taking the girls to the library to see the movie about menstruation!" Sweet tampax applicator, that's so wrong.
Posted by: HeatherRadish at May 06, 2010 01:19 PM (mR7mk)
The man who is employed for wages is as much a businessman as his employer. The attorney in a country town is as much a businessman as the corporation counsel in a great metropolis. The merchant at the crossroads store is as much a businessman as the merchant of New York. The farmer who goes forth in the morning and toils all day, begins in the spring and toils all summer, and by the application of brain and muscle to the natural resources of this country creates wealth, is as much a businessman as the man who goes upon the Board of Trade and bets upon the price of grain. The miners who go 1,000 feet into the earth or climb 2,000 feet upon the cliffs and bring forth from their hiding places the precious metals to be poured in the channels of trade are as much businessmen as the few financial magnates who in a backroom corner the money of the world.
We come to speak for this broader class of businessmen. Ah. my friends, we say not one word against those who live upon the Atlantic Coast; but those hardy pioneers who braved all the dangers of the wilderness, who have made the desert to blossom as the rose—those pioneers away out there, rearing their children near to nature’s heart, where they can mingle their voices with the voices of the birds—out there where they have erected schoolhouses for the education of their children and churches where they praise their Creator, and the cemeteries where sleep the ashes of their dead—are as deserving of the consideration of this party as any people in this country.
It is for these that we speak. We do not come as aggressors. Our war is not a war of conquest. We are fighting in the defense of our homes, our families, and posterity. We have petitioned, and our petitions have been scorned. We have entreated, and our entreaties have been disregarded. We have begged, and they have mocked when our calamity came.
We beg no longer; we entreat no more; we petition no more. We defy them!
Posted by: william J bryant at May 06, 2010 01:20 PM (UaxA0)
Posted by: Vic
Here's the funny thing: what is the normal punishment for cases of discrimination in a company or workplace?
Sensitivity training!
I would so pay money to watch that.
Posted by: Garbonzo the Garrulous at May 06, 2010 01:20 PM (zgd5N)
Posted by: Barack Hussein Obama at May 06, 2010 01:22 PM (AZGON)
Posted by: George Orwell at May 06, 2010 01:22 PM (AZGON)
Posted by: BHO at May 06, 2010 01:25 PM (F26eZ)
Posted by: Vashta.Nerada at May 06, 2010 01:26 PM (T0MgD)
Posted by: George Orwell at May 06, 2010 01:28 PM (AZGON)
I know it's Paulite territory, and I hate even thinking about those loons, but going off the gold standard really fucked us in the long run. Inflation of fiat money is inevitable, and largely undetectable (in a way that debasing the bullion coinage in Roman times was not). It just took 75 years is all.
Our system is built upon a desert's worth of shifting sand.
Posted by: s'moron at May 06, 2010 01:28 PM (UaxA0)
Posted by: RobD at May 06, 2010 01:28 PM (sV3Dv)
Posted by: Jeff at May 06, 2010 01:29 PM (xXtpO)
Posted by: Voyage to the Bottom of the Sea at May 06, 2010 05:16 PM (90oki)
Dude, seriously, that was uncalled for, I just finished some pizza.
Posted by: Johnnyreb at May 06, 2010 01:29 PM (NNrYJ)
Posted by: Lindsey Grahamnesty licking Rahm Emanuel's sweet hairy balls at May 06, 2010 01:30 PM (J+UTa)
Posted by: Lindsey Grahamnesty licking Rahm Emanuel's sweet hairy balls at May 06, 2010 01:31 PM (J+UTa)
Posted by: Lindsey Grahamnesty licking Rahm Emanuel's sweet hairy balls at May 06, 2010 01:32 PM (J+UTa)
Posted by: George Orwell at May 06, 2010 01:33 PM (AZGON)
Posted by: kbdabear at May 06, 2010 05:06 PM (sYxEE)
I've seen two or three, but they were actual mimes. As was I at the time.
Posted by: Randy at May 06, 2010 01:37 PM (zQKSr)
Posted by: Comrade Arthur at May 06, 2010 01:41 PM (4Irul)
No worries Jane DÂ’oh, it was the perfect set-up for the joke that followed which was a mood lightener on a day when I think we all needed one. Hugs. I know things are rough for you right now, IÂ’m keeping you and your wonderful son in my prayers.
Posted by: ParanoidGirlInSeattle at May 06, 2010 01:44 PM (RZ8pf)
Marty VB is a piker.
Posted by: Chester A. Arthur at May 06, 2010 05:12 PMI ran into the Van Buren Boys, and they're just as mean as he was
Posted by: Cosmo Kramer at May 06, 2010 01:49 PM (sYxEE)
We are so f-ed.
Posted by: rockhead at May 06, 2010 01:49 PM (RykTt)
Posted by: Howard, Howard & Fine at May 06, 2010 01:50 PM (yCH89)
Posted by: NJRob at May 06, 2010 01:53 PM (y/IxH)
He was only the dummy President of the Galaxy. Everyone knows that Darth Cheney was the power behind the Empire
Posted by: Kos Kidz at May 06, 2010 01:53 PM (sYxEE)
Bush stole the Genesis Device from me. Then he stole the 2000 election
Posted by: Khan Noonien Singh at May 06, 2010 01:55 PM (sYxEE)
Lotsa wealth changed hands today. So much so that I call BULLSHIT.
What if you had known a 1000 point V was coming in the Dow? Think you could've made money on that? I think I could've. I know it sounds "tinfoil", but the fact is that free markets require people with honest intentions. Look at the world around you, and get back to me. This whole financial system is about to collapse. If you were a player, wouldn't you rape it before you shot it?
Speaking of which, "what free markets?". Look at that Dow graph again. 3 PM. On the dot. On low volume. The word you're looking for is "collusion". 13 points in Scrabble®
Ma and Pa Kettle just gave most of their retirement account to Citibank, Goldman Reacharound, and the DNC.
Posted by: Herr Morgenholz at May 06, 2010 02:06 PM (kzmSm)
"The selloff briefly erased more than $1 trillion in market value"
"Erased" is an interesting term. I prefer "transferred". It takes two to tango.
Posted by: Herr Morgenholz at May 06, 2010 02:10 PM (kzmSm)
If this truly was an error, then shouldn't the markets stay closed until it is found what caused the error?
It's like an oil refinery had an explosion and the production manager says "let's just start her back up".
Posted by: Prof. Venkman at May 06, 2010 02:17 PM (4JpPD)
Posted by: MarketMakers at May 06, 2010 02:22 PM (1WxGg)
Posted by: tsj017 at May 06, 2010 02:31 PM (TO4Pw)
Posted by: Tattoo De Plane at May 06, 2010 02:33 PM (mHQ7T)
Good thing I already spent what was left of a already decimated 401K to pay my mortgage during almost a year of Obama's Funemployment Hope & Fucking Change.
Stock market crash? Big fuckin deal. Who cares. There's lots of fucked over people with no money left.
Business as usual under the Obama regime.
Posted by: Horst Grossenholz at May 06, 2010 02:40 PM (2jp4I)
Posted by: Chairman Obama at May 06, 2010 02:47 PM (wTawr)
http://tinyurl.com/2ftfml8
Posted by: Herr Morgenholz at May 06, 2010 02:49 PM (kzmSm)
Curiously, China has largely avoided getting sucked into this void, as far as it's internal policies go -- admitted it has got sucked (or suckered?) into buying a lot of weak-ass US bonds...
Perhaps if U$ inflation kicks, a 1% return won't look that bad in relation to other currency/investment options...
Posted by: drfredc at May 06, 2010 03:19 PM (ljMiA)
Posted by: Doom at May 06, 2010 05:19 PM (W9wBS)
I'm wondering if extremely wealthy person did this deliberately to tank the market, then rush in to buy at a discount and make a quick killing.
I'm thinking of someone with initials of GS.
Just speculating...
Posted by: FrankReality at May 06, 2010 06:07 PM (t5/IN)
Posted by: Comrade Arthur at May 06, 2010 06:11 PM (4Irul)
Posted by: curious at May 06, 2010 06:16 PM (p302b)
Posted by: OBL at May 06, 2010 06:37 PM (ALucN)
Posted by: Herr Morgenholz at May 06, 2010 06:10 PM (kzmSm)
I know you're speaking off-the-cuff, but it does get erased. The wealth just disappears into the aether. But, it should. It's illusory, to begin with.
Posted by: progressoverpeace at May 06, 2010 06:55 PM (Qp4DT)
For once, I disagree with Charles Krauthammer. Tonight he said that the USA must definitely give money to the IMF to bail out Greece, Portugal, Spain and Italy.
What does he mean by "must", and what stake does he have, personally, in such a trasaction. I suspect that he is being disingenuous and that he has selfish, ulterior motives for trying to impose that position of his on us.
Why should we pay for the freebees which were received by hoards of socialists who couldn't pull their own weight? It's the same as the rest of us paying for the freebee benefits which are received by the members of labor unions in this country. They get a free lunch, and the rest of us have to pay for their free lunch??? That's insanity.
Screw the Europeans!!! And screw the socialists. Anybody with half a brain recognized that their plan for a socialist economy for all of Europe was a hare-brained idea. They made their own bed. Now they can sleep in it. It's time for people everywhere to accept responsibility for the consequences of their stupidity. They can bail themselves out of their mess, and if they can't, that's tough shit. They got what they deserved.
Posted by: ACO at May 06, 2010 06:55 PM (ITzbJ)
Don't we already give an enormous amount of money to the IMF? Just like don't we already give an enormous amount of money to the UN?
Posted by: curious at May 06, 2010 08:50 PM (p302b)
Not even close, the Dow would had to drop another 1,100 points (over 10% more).
Google, try it sometime.
Posted by: Mary Jane at May 07, 2010 04:26 AM (ab+/o)
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Posted by: jewells at May 06, 2010 10:53 AM (l/N7H)