``I overstated'' the level of agreement on equity, Frank said. Still, he said, ``we've gotten closer to where we think it ought to be.'' (click here).
Democratic leaders said the measure is needed to calm market turmoil and they hope to complete talks and pass the measure soon. Even as an agreement neared, Shelby, the top Republican on the Senate Banking Committee, said the proposal is ``neither workable nor comprehensive, despite its enormous price tag.'' House Republicans have also criticized the administration's response to the crisis as ``bail-out mania.''...
Bush really needs to be impeached along with Cheney. Should have been done a long time ago. I have never seen such a ludicrous mess in my lifetime. Those Bozos keep kicking sand in everyone's faces and they simply look the other way. This is as much a travesty to these circumtances as Paulson's Wet Dream.
The 'play' in the markets since it left 14,000 has been interesting. 14,000 was an artificial elevation. The market continues to make adjustments. I still don't see the pain and I don't 'buy it' that retirees have it so bad. The 'real' issues with people on FIXED INCOMES is that their cost of living is so overinflated due to energy, transportation and food costs that they don't have a lifesytle anymore.
I am quite confident retirees want to leave a country that has a future to their children and grandchildren rather than seeking 'short term creature' comforts. We are all in this together and its the simply things in life that sometimes makes more sense than extravangance and indulgence.
The market will turn around when there is a change of administration in DC and good paying jobs are again part of the American landscape, when energy and transportation is clean and reasonable and food is back to being thirfty and nutrious without corn syrup and additives in every ounce of the American diet. I mean it was the end of the line when I read an article about obesity in children and their need for liver transplants. Is there no decency in this country anymore? I think we need gym class back in all our schools.
The country has been on the wrong path for a long time now, this is just more of the same. The financial institutions have to ride it out. I only hope the Congress comes up with a loan program that will encourage the institutions to continue to strive to better outcomes. I have no empathy for stockholders. We all should be pleased these institutions continue to operate, so should they.
It's called being an American before one is an investor. Is there such a thing? The country didn't achieve this crisis overnight and it won't be straightened out overnight. Stockholders weren't complaining when the 'windfall profits' were hitting the books, then they should not be annoyed because they have hit a bump in the road along with a market adjustment. Gotta take the good with the bad.
