I’ve been a republican my whole life. However, after the shit they pulled today, I’d rather kick McCain down an idle manhole than cast a vote for his old/dumb ass.
Sure, why bail out those greedy Wall Street folks? We’re better off paying some military contractors 600 billion per year, so that they could rip us off on $100 buzz cuts for Marines and $50 lunches in Iraq.
The lack of leadership in Washington is startling. If the GOP says it was Pelosi’s fault for getting all political and shit, encouraging them to vote “nay”, then they are idiots. Sure, destroy the country. That makes sense.
Damn that Pelosi, though.
In short, they do not understand what’s at stake. They are idiots, with circus clowns for advisers.
It figures that I’d get caught long names, during the biggest meltdown in history. I just didn’t think Congress was that retarded.
In short, prepare for armed revolt, within 5 years. And, be sure to keep ample amounts of food and water in storage.
Oh, as for the stock market:
It’s done. Sell and get short or go to cash. Just book the losses and consider yourself to be unlucky for electing such imbeciles.
NOTE: Fuck Main Street. You will pay for these transgressions.
If you enjoy the content at iBankCoin, please follow us on Twitter
fuck em all.
Hey, the market is only down $150 billion today. You guys outta be thanking us. We just saved $550 billion today.
Pelosi tried to save your ass, blame your own imbecilic party for this atrocity. And enjoy your losses.
I bought that rack on Nancy Pelosi…I own her too
Amen.
-DT
Republicans have been acting as criminals and thieves for the last 20 years.
They are the scum of the earth and whenever they control our government for too long — they destroy everything.
It’s no surprise to me or to most people what is happening here. You’re either part of the ‘in crowd’ that receives golden parachutes or you’re a poor fuck now.
Prepared for armed insurrection? check
Losses booked? double check
Sense of humor intact? check
Margin call met? check
This is fun. Do grownups always have this much fun?
the dems are cheerleading this shit so they can blame the repubs and get elected.
did anyone hear obama? not offering solutions only blame.
disgraceful
Pelosi said mean things about Bush. So these ADULTS changed their minds. LOL. They NEVER had the votes. Presumably, their constituents live from paycheck to paycheck…on cigarettes, fritos and beer.
http://en.wikipedia.org/wiki/Banana_republic
That said:
This was actually the best decision by Republicans in the last 8 years. I applaud them even though they caused this shit in the first place.
Send lawyers, guns and money
“Sell and get short or go to cash”
With the VIX at 46, that makes sense…
Am I missing something, or do the Democrats have control of the House and the Senate?
There are circus clowns with politicians as advisers.
I guess the VIX must be near 50 for The Fly to talk politics and armed revolts.
Obama just got elected. Wall Street will never forgive the gop.
If you watch CNBC in rewind mode, you hear Obama Obama Obama…
I’ll set the over/under on todays Dow loss right here at -570.
I’ll take the under.
you’re wrong. transferring debt from the private sector to the public sector doesn’t solve a thing, and will only postpone a resolution of this mess. we’re not japan, thank god. we have lived beyond our means for years, and now must settle up. the strong will eat the weak, and the system will reset at a lower valuation. take a deep breath, creative destruction is painful, but in the end it will allow for regrowth. i’ve got a secret for you….the sky is not falling, bush is still an asshole, congress is full of people that you wouldn’t let pick up your trash, and the market will go on.
btw, citigroup will be a winner, you were wrong to bail.
Cheesefries,
Please don’t disrupt the narrative.
People apparently have no clue what a frozen credit market means. The equity market is for price discovery so people can value the bullshit piece of paper they hold.
The credit market is how businesses fund themselves. And if they can’t fund themself, what happens to earnings that give your bullshit stock certificates value?
Anybody buying this market will regret it until something is done to make the credit market functional again.
Listen to Cramer. He’s right about this.
Keep an eye on the precious metals complex. Starting to dig in prior to global coordinated rate cut hyper-inflation.
So Fly you see a revolution w/i 5 years? Interesting…
Are you a trust fund baby by chance?
You gotta love the Dems, get us in the shit hole, than try to muck up a bill. Hey Cramer, how is the WB thing working out. See, when shit doesn’t work, blame CONS, and when shit works, praise RATS.
Fly,
Embrace Obama’s 28% cap gains tax.
Your posts have evolved from the USSA/Socialism to now blaming the GOP for not bailing out wall street. Make up your mind, and quit selling into panic.
Look for one of me to appear very soon.
My bet is a rash attack of Iran by the Israelis.
USO might be a stealth play, just in case.
There will be a playable rally anywhere btw here & SPX 1050.
Most of the short term damage is done.
I repeat the Democrats control both the House and the Senate.
Fuck Obama. Fuck the GOP.
What’s worse than failing to pass a badly needed $700 billion bailout?
Spending $700 billion on a flawed plan and facing the same problem 3 months down the road.
pelosi = loser
http://www.theyfly.com/newsflash95/Updated_Earthquake_Tsunami_Ver2.pdf
Fucking politics. It is amazing that these cock-nozzles will sell this country down the fucking river in order to support some stupid partisan agenda. Fuck Republicans. Fuck Democrats.
These idiots keep talking about fat cats and main st vs wall st – I got news for you, tell fucking main st to check their 401k’s IRA’s, pensions…they are fucked.
OK, time to watch Nancy Pelosi and listen to her bullshit.
that’s what you get when sending a w0man to do a Man job
Obama just got elected. Wall Street will never forgive the gop.
I hope to see Obama elected, but the fact is that Wall Street only cares about the next paycheck.
BS – The Democrats have the majority and can pass any damn bill they want. It was lack of Democratic support that killed the bill. If every GOP member votes NAY to every Dem voting YAY, it passes. Well, plenty of Republicans voted YAY and it still died. NOT THE GOP’S FAULT.
Fuck the credit markets. Any business that relies that heavily on borrowing deserves to die. Have fucking reserves!
There’s still time for a rate cut or a war before the election, just so we can have some more market mayhem. Forget everything you ever learned about the markets being orderly, or “everything’s already priced in”.
Stupid bastages in congress. Even I didn’t think they would be fiddling while America starts to burn down.
sounds like the “leaders” of both parties in the house, really aren’t!
and that ain’t all bad, kids.
Michael Moore’s head is spinning… Flip flop in 10 9 8
http://www.michaelmoore.com/words/message/index.php?id=235
cheesefries:
1. Would have passed Senate by a big majority.
2. House Republicans didn’t get even 1/3rd of their members to vote for a Republican President/Republican Sec. of Treasury solution. They stomped their feet last Friday. Got this absurd insurance provision thrown in and STILL in the end ran away from Bush/Paulson and ‘bailing out’ the FAT CATS.
She just said Barney has great knowledge, yeh, bring up the point he caused this, she should be baking cookies instead of the leading the house
boca everything WAS PRICED IN. On Friday.
hahaha these shitbag politicians are so frightened of losing their jobs, they’re going to let frank the cannery worker phone them up and explain that they should ass-fuck the nation as punishment to wall st.
fuck the US. i’d rather tempt fate in china. this is a fucking joke.
Obama is on track to win the election after the economic events of the last 7 days imo.
Tomorrow=Capitulation day?
the bill went from 3 pages to 217 pages, yes the RATS are on your side
Aris Says:fuck the US. i’d rather tempt fate in china. this is a fucking joke
oh man, you’re not serious?
here is barney, he won’t admit the truth but will tell you what you need to know. Hey barney, you’re next job will be a mascot, think dinosaur. what a hat
Black Swan,
If Obama is elected, Israel will attack Iran between November and January. If McCain is elected, they will wait up to a year to see how he handles Iran.
Israel will not trust Obama to prevent Iran from acquiring nukes.
Test the lows today?
I predict this Octuber will be the worst month ever!!
I am glad congess decided not to bailout wall street, Congratulations!!!! MCain has balls of steel, I like that guy already!!!!
What does TA suggests now, LOL!!!!
funny, barney just admitted that his party was not going to pass the bill on there own, chicken $hit.
He looks like he is ready to cry.
Argh…Why the fuck is wrong with SRS?
Spending $700 billion on a flawed plan and facing the same problem 3 months down the road.
Rare agreement here.
The only thing left to do is pump up the volume.
Accumulating GG here… (more of it I mean), first buys at $33.00.
Jim Cramer Blog
Here’s What’s in Store
By Jim Cramer
RealMoney.com Columnist
9/29/2008 2:47 PM EDT
URL: http://www.thestreet.com/p/rmoney/jimcramerblog/10439865.html
We needed it. Without it, the stock market will now reflect a series of assumptions:
1. worldwide economic collapse;
2. a depression that is a sequel equal to the Great Depression;
3. many, many more bank collapses than we have had already; and
4. much more unemployment and many, many foreclosures.
I still believe that they can pick up the pieces somehow, but I cannot hide my thoughts that we have an economic disaster on our hands and the only weapon we had created was the mortgage plan.
Here’s what I think happens now. We’ll look for self-funding companies that do not need debt and do not need economic activity, and we’ll start to pick at them. But we have to expect that we can go down several thousand more points without a plan, and I would use the prices I gave you in my pieces the other day to use as benchmarks to where things can go.
Anyone scalping long? Anyone going long FXP? Help me out with some looks. I am all cash and ready to rock. Wait till tomorrow gap down?
inloworbit:
Frank said why not get the Republican Administration and Treasury Dept. to convince House Republican members? Makes sense to me. And, then he made fun of the Republicans that ‘got their feelings hurt’ by Pelosi’s speech. LOL! BTW, he’ll get reelected by 80%
Right on:
Look:
The republicans and democrats are both shitstains in this world. They’re all in the pockets of corporations and would have deregulated either way.
Until this country elects 3rd party people like Ron Paul (not that he’s 3rd party — but acts like it) — it’s the same old shit. Maybe after a severe depression will wake up. Most people are so fuckin’ clueless and care.
McCain is a joke.
Obama has no answers.
Country is run by dipshits. Vote them ALL out. Until then, we are fucked.
Anyone who really thinks there’s a difference is just eating the bullshit they spoonfeed you.
Next bank to be taken out and shot? NCC.
that’s straight
They should pull the motherfucking power right now! Get them off the television.
This is simple payback from pissed off short time Republicans who will never be elected again thanks to an Admin that avoided the truth on so many issues, selling out not only their country, their party, and in the coming years, their entire way of life.
For the script I wrote 150 years ago, read my books and collected letters – they’re actually free and available all over the internets.
Then read yourself Hobbes (Thomas, not Calvin &), because we’re going back a lot further than even I would have thought…
DJIA 10300 today
Big Mike, what do you mean what’s wrong with SRS? YahooFinance shows SRS-IV @ 81.68 and I show SRS @ 81.50. That’s not out of line.
Sniper6, that’s scary. What’s the rationale?
Sir Douchebag has hit the correct & knocked it the fuck out. Throw the bums out. Period. The End.
Cramer is an asshat and always wrong. The fact that he is so bearish is a good sign for bulls.
I have faith in our government. For them NOT to pass this bailout takes balls. I am sending boxes of chocolates to all those Reps who voted against the bailout. Short term this may suck for the market. Long term this is Great for America. God bless America. Finally we have politicians who listen to the people. Most people in this country were against the bailout and these reps made the right decision. We need to get rid of this credit bubble once and for all and return to growth which is powered by strong fundamentals. The bailout would have been a short term fix which would have caused more problems 2-3 years down the road.
Right now cash is king. Those people who have no debt and sit on cash will be richly rewarded in the months ahead as asset prices implode and great deals will be had in stocks and real estate.
I’m a democrat and I’m so glad the republicans sank this. Screw the credit based economy. Let it burn down. burn burn burn burn burn burn burn burn. Time to get real jobs, you money hording stock fondling ass hats.
The Anti-Cramer barometer says to BUY BUY BUY
repeat the mantra “shut the * up”
Time to bottom fish here..
Any ideas on what the press will call a crash? -10% -12% -15% . Just trying to get some scenarios together for close and tomorrow open. Crude down 10%? is that right?
Can we make it to down 1000 points today ?
Cubs:
How’s that big long lookin for ya right now?
Danny, what’s your idea of a “flush”?
Got some GGGGGGgggold and Ssssssilver ?
Yogi, I’m trying to be optimistic. A 1000 point drop would be almost too much to comprehend, so I tried to sugar coat it a bit.
I don’t like it any better than you do.
I’d say this meets the criteria for a crash.
And unless the House does something FAST, we’re going down tomorrow again.
Black Monday part 2 ?
NASDAQ gonna lose 2000 tomorrow…next stop another 100pts.
EBBC, right again
Dude at the NASDAQ on cnbc is sweating bullets. or he’s just greasy.
wow, Brian… so what you’re saying is, you’re really a republican?
You know, no credit, live below means, limited spending, limited gocvernment involvement ( using tax payer money, for the quote common good” is very liberal by definition, so opposing such a bill would normally be conservative…)
weird how everything turns on itss head when you have a so called “conservative” president spend more money than Clinton and all the presidents before him combined.
I think for the first time, Buffet broke a sweat.
only the House ain’t doing shit. This fucker is going down like Barney Frank at a Chippendales convention.
Real Jobs, eh?
How about a factory worker?
Oh, sorry, no more factories, since all THE FUCKING BANKS ARE DONE.
Keep going.
Tell me what jobs we can get, sans bank support.
Yogi – We close at the lows
Tomorrow we gap lower and sell off until 10-1
Somewhere in there we reverse, hard
What is the catalyst fr this? Dunno.
But the EXACT pattern has manifested itself each time.
So thats what Im lookig for.
Cap,
What congress did today demonstrated a lack of balls, not an abundance of them. Total lack of leadership. Unless a prolonged depression is your solution for unwinding the credit bubble, this plan was the best of the bad options available.
Cut off the arm or starve, pinned under a rock? Today congress said, “Why not both?”
It would feel great to boot stomp all of congress — both stupid, fucked, worthless parties — into goo.
Asshole Dip Buyers spotted, twelve o’clock!!!
but really, I’m not making any bets
to the person above, obama would not take a pre emptive strike to Iran off the table… therefore, he’s FOR that whole “attack them before they attack us mentality”
They’re all “opposames” appearing opposite, but really just trying to please the people that give them the power (and no, I’m not talking about the common man)
Danny – thanks.
Fly, you should have seen this coming. This brings opportunity, its how you look at the situation. Stop crying and go make some money.
Danny, unclear on “each time”, can you clarify? Thanks, sniper6
Skiffles up 22 today… as much as I hate to part with them…..
decisions, decisions!
__
cut spending
cut taxes
poof– Jobs
Hang on JG!
man, listening to all this negativism makes this sound like a bottom.
buy c, boa, jpm…they’re all being subsidized in their purchases of the weak and infirm.
buy xlf.
Holy shit, it’s The Wrath of Ducati!!
__________
Seriously, I hope that fucker is okay.
Watch out for Tsunamis Gio!
_______
We at Depends would like to welcome our newest mature endorsee to our growing roster of pants-shitters, none other than Mr. Warren Buffett!
“Thanks, Depends. I just shit the money bed, but because of my XXXL Depends, I did not soil my bullshit pleather chair. I can rest assured that even when the shit stops, and the blood begins, my ass is safe with you. You’re the….phhht…gurgle…best!”
LIMIT FUCKING DOWN YOU FUCKING ASS CLOWN FAGGOTS!!!!! Goddamit burn Pelosi’s fucking ass alive!!!
for a few minutes there were NO BIDS. scary shit.
Wow, thank God for the “no short” rule, eh?
No worries guys, the McCain/Palin ticket understands all this and will lead us to the promise land no problem. Below you will gain some of Palin’s insight on this latest financial system meltdown:
PALIN: Ultimately, what the bailout does is help those who are concerned about the health care reform that is needed to help shore up the economy- Oh, it’s got to be about job creation too. So health care reform and reducing taxes and reining in spending has got to accompany tax reductions.
come on bell. come on.
You can’t borrow on credit without borrowing from future production. Any success that you have from the credit inflated booming 90s of Clinton era, are destined to come down. Especially when you force banks to meet “quotas” and have a “fair lending act” that forces banks to hand out loans to some random black dude on the street, just to meet the minority requirements.
I guess price fixing doesn’t work. We tried it with the “no short” rule. Oh well, back o the drawing board.
We’re learning a lot now. Really. We are.
awww, Jake, you sold, dint’cha?? shee-it
Everyone says “I can’t hedge… I better go old fashion and buy cash….
How’s the market? Taking waaaay too long today.
and the bounce……………
60 Minutes special the other day- it takes two cents to build a penny. nutty shit, man.
*Poof* There goes your bullshit sell-off….. Wait a minute. Am I on the right side of that magical trade?
Mother Market, thank you for the great buying opportunity you are giving me.
I ask for 2 things.
Give me SPX 1090 in the morning and a Cubs World Series win.
Funny how the DOW is down 560 and I’m feeling better…weird
The downward spiral will stop in 10 minutes. (for today)
I’m still buying JPM hand over fist below $44.
But I’m scared. Very scared. I don’t want to buy anything. I think I’m going to be sick.
Alright, who’s the wise guy that’s still shorting???
STFU Maria
you want to be long into this close.
i guaranty you fly is buying right now.
buy fear & stupidity.
FLY,
C has held up decent through the carnage….perhaps you should have held….perhaps…..
Everyone is blaming the republicans in the house… the dems have the majority and over a 100 voted against this… so I think ALL of congress is really to blame… and the main problem was people buying homes they couldn’t afford plain and simple
Anonymous… when it was just 720 degrees outside, 560 is like air conditioning.
Thank the market gods for the big three:
EEV, FXP and my baybeeeeeeeee Skiffles.
__
quickly- pressing your ultra shorts or taking profits into the close?
Fly, the banks are FUCKING TOAST because they screwed up, gambled, lost, and are now insolvent – they just won’t admit it yet. The solution isn’t to fuck middle America and recapitalize failed institutions, or let them turn into Japanese zombies and bury losses for a decade. Let them fail, new ones will spring up to take their place.
jake-are you selling those into the close?
Maria says to ‘Main Street’: Were going to get a rescue package! Face it, you hayseeds.
Nuker,
You’re missing the point. Israel will not trust Obama to deal effectively with Iran.
Also, Obama’s primary foreign policy goal is to get people to “like us”, and you won’t get people to like us by playing hardball with Iran. Obama won’t be able to use military force against Iran because that will look too much like a Bush tactic and he is campaigning as the anti-Bush.
Obama has no credibility with the Israelis or Iranians, so expect Iran to become more belligerent and the Israelis to do what they need to do if Obama wins. Iran and Israel understand that Happy Talk only works on paper, unfortunately, Obama will have to learn that the hard way.
“JakeGint Says:
Anonymous… when it was just 720 degrees outside, 560 is like air conditioning.”
nice.
Gee, Maria, it’s a good thing I don’t understand how serious this is. I might have gone long. Liquidate the banks.
Fly.You whimpering fucking baby. I thought you had balls. I suggest you run home to mommy with all your chicken shit friends and hide under her skirts. Now I am depressed. What a bunch of gay asshats you “players” turned out to be. No govt bailout and you shit yourself. Just clean it up and move along.
For some reason I have some strange compulsion to buy UYG right now…
I restrained myself, though.
Donny buys SSO at close @ 47.05
Oh sure, let the fat black lady ring the bell all by herself on “Black Monday.” Hilarious.
As far as Armageddons go, that was pretty weak.
What a sweet day to hold VSE and PEIX. Both up ~ 50% on buyout rumors. Thanks Fly!
added at close to skf, and eev…couldn’t resist
Wow, AAPL stayed above $100. I win!
Austin… sorry, I missed your query.
I held everything I still have. I will wait to see if there is follow through tomorrow morning.
If there is, I’ll be getting out there as volume fades. If not, I’ll wait and see how the rebound looks.
___
-6% DJIA, -9% Nasdaq. Well, isn’t that nice.
NASDAQ futures selling off hard after hours
I think GS might be a buyer of one of those crappy banks that got killed today. They need to start buying soon.
Any ideas?
Is there not a fucking LIMIT DOWN BUTTON ON THE Q’s!!!!!!
Goddamit fuck you assholes.
Welcome to your new third world country, complete with emerging stock market volatility!
Fly, the banks are FUCKING TOAST because they screwed up, gambled, lost, and are now insolvent – they just won’t admit it yet. The solution isn’t to fuck middle America and recapitalize failed institutions, or let them turn into Japanese zombies and bury losses for a decade. Let them fail, new ones will spring up to take their place.
This is painful, but true. There is nothing easier than fractional banking, if you can maintain discipline.
That said, that’s why there’s fucktardloads of competition in it.
And there always will be.
__
Is the market closed yet? Because my fingers are still twitching.
If I was a betting man (since I daytrade I guess I am) I imagine that their will be so much global liquidity injected before the AM, by the Central Banks, that we will be swimming in a sea of cash.
It almost looks like short covering in some stocks I’m watching … WTF?
dogwood, I agree with you from israels perspective…
but remember, he’s a politician, his primary goal is to get elected by any means neccesary… Once that happens, he’ll do what he wants. A year ago he said he didn’t wish to run for president because he didn’t feel he was experienced enough… Then the opportunity ccame along and…. tada….
I don’t think he’s any different… Bush in 2000 talked about how much nation building Clinton is doing, and how if a soldier were asked to go to war he would report “not ready for duty, sir”. Then… guess what, 9/11 gives him an excuse to change everything and go ape shit….
Just because he’s a donkey rather than an elephant is supposed to make him any different?
Obama will be no different, an ass in messiahs clothing, is still an ass, and a democrat in conservative clothing, is still one too.
Bush did so much work making sure the president would have power beyond our forefathers wilest nightmares, yet he isn’t going to be around to use those powers… and neither is “his party”… But Obama is, and people with power get corrupted….
Larry Fink:
‘Congress is playing with fire! People on Main Street are going to get hurt – I promise – and should vote against Republicans who voted against the bill’
Does he think they are actually listening or view him as anything buy a FAT CAT with a $20 mil/yr. salary?
No LOL, I’m not really a republican. I support the economists that say the bailout money should go directly into the housing market, skipping wall street.
So true, Nuker (about Bush). I remember him saying that, and a great many other things, then he did a 180 once he took office. I have a bad feeling about Obama as well…
OWWWOOOOOOOOOOOOOOOOOOOOOOOOOO!
TraderCaddy,
You might be right about that injection of liquidity. I just got an email from my broker that said my margin ratio “was increased from 4 to 1 to 40 to 1, courtesy of Ben & Hank…but only for going long (darn)”.