Recession? We don' need no steenkeen recession!

[catocom]

As of now it looks like it made up the 1000 pt. loss......

Wall street likes what GW had to say.

IMO it was the hundreds of billions the foriegn markets poured into it.

We'll see. I'm not holding....cept on gold, and other metals.

 

[MrBishop]

The trade volume on Thursday/Friday was astounding to see. I'm wondering if they're going to restrict short again this week.

 

[MrBishop]

Shift, shift, shift

The Federal Reserve has granted a request by Wall Street's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies.

The Fed announced late Sunday that it had approved the request of the two investment banks. The change in status will allow them to create commercial banks that will be able to take deposits, bolstering the resources of both institutions.


The change continued the biggest restructuring on Wall Street since the Great Depression.


The request for the change to bank holding companies was granted by a unanimous vote of the Fed's board of governors during a late Sunday meeting in Washington.


The change of status means both companies will come under the direct regulation of the Federal Reserve, which regulates the nation's bank holding companies. The banking subsidiaries of the two institutions will face the stricter regulations that commercial banks are required to meet. Previously, the primary regulator for Goldman and Morgan Stanley was the Securities and Exchange Commission.

In related news. Japan and Britain buy up chunks of the bankrupted Lehman's.

Props to Catacom for spotting this coming on Friday

Linky

 

[catocom]

Thanks, but it was already in motion when I said it.
I've just been watching them closely. There were big sign IMO.

I don't believe this is even going to be the worst deal in the works. Bad enough though.

We ARE losing our sovereignty here.

 

[MrBishop]

I figured that the Fed reserve would be shorting the American greenback vs. foreign funds by buying MUCHO foreign currency -which is partially what they did. I thought that the current administration would be going out of its way to prevent foreign purchasing of this particular bankrupt company.

Slipped in under the radar.

 

[MrBishop]

We ARE losing our sovereignty here.

Could eb worst... it's Britain and Japan, and not China and the UAE.

 

[catocom]

Could eb worst... it's Britain and Japan, and not China and the UAE.

no so fast....stay tuned

 

[MrBishop]

no so fast....stay tuned

Too late. Barclays laid claims on the lot, including re-hiring all the employees and changing the name to Barclay's Capital

PDF news release here

 

[catocom]

now That's cool.
need more, need more

 

[spike]

Loan Titans Paid McCain Adviser Nearly $2 Million

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

http://www.nytimes.com/2008/09/22/u...igg&adxnnlx=1222122634-rVXrM5UwOIiPOE1Eyr2krA

 

[Cerise]

PHILADELPHIA, Pennsylvania (AFP) - John McCain's White House campaign Monday lashed out at the media and declared that the venerable New York Times was "150 percent" behind Democratic hopeful Barack Obama.

McCain senior strategist Steve Schmidt rebuked journalists he said had failed in their duty to submit Obama to intense scrutiny and accused news organizations of hounding McCain's running mate Sarah Palin.

"Whatever the New York Times once was, it is today not by any standard a journalistic organization," said Schmidt on a conference call with reporters.

"It is a pro-Obama advocacy organization that every day attacks the McCain campaign, attacks Senator McCain, attacks Governor Palin, and excuses Senator Obama.

"This is an organization that is completely, totally, 150 percent in the tank for the Democratic candidate, which is their prerogative to be, but let's not be dishonest and call it something other than what it is."

"It is an organization that has made a decision to cast aside its journalistic integrity and tradition to advocate for the defeat of one candidate -- in this case, John McCain."

Schmidt's outburst came in specific response to a question about a story in Monday's paper which said McCain campaign manager Rick Davis had lobbied for 30,000 dollars a month for five years to defend mortgage giants Fannie Mae and Freddie Mac.

Davis said on the conference call he had been on leave of absence from his company for 18 months, and had not done any lobbying work in the area for up to a year-and-a-half before that. http://news.yahoo.com/s/afp/20080922/ts_alt_afp/usvotemccainmedia

Barack Hussein Obama is a fraud and a liar!

....to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.

Frank Raines has never advised Senator Obama about anything -- ever.

Cached Wiki sez: Franklin Raines is currently one of Barack Obama's chief economic advisers.

Even the WaPo connects the two:

In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly.....taking calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters.

 

[2minkey]

oh my it's a wolf!

 

[spike]

McCain gets all crotchety when he's called out.

 

[Cerise]

oh my it's a wolf!

I understand that Sarah Palin has an answer to too many wolves: Preditor Control. To manage overpopulation, as directed by the Alaska Department of Fish and Game.

 

[2minkey]

I understand that Sarah Palin has an answer to too many wolves: Preditor Control. To manage overpopulation, as directed by the Alaska Department of Fish and Game.

that's great but it doesn't really inspire me to vote for a ticket with her on it.

but hey i hear she's doing a whirlwind tour in meeting some foreign diplomats to beef up her foreign policy qualifications! sweet! maybe by the time november rolls around she'll be able to find the transvaal, rhodesia, or even maybe zimbabwe on a map!

 

[Cerise]

.....she'll be able to find ____ on a map!

I hear she does know where Iran is.

 

[Gonz]

that's great but it doesn't really inspire me to vote for a ticket with her on it.

blah, blah, blah.

Your options are a full fledged marxist & his pet weasel from Delware...the 1st & third most liberal pols in DC,

or,

A liberal old man with a cunning executive alaskan sidekick.

Who would you prefer for VP? Another trained & connected politician?

 

[2minkey]

like i said before, it was a near certainty that i would vote for mccain BEFORE he chose that dumb bimbo as his running mate.

 

[Cerise]

You would never vote for a woman?

 

[2minkey]

i'd be happy to vote for a woman, but not a hooters waitress.