Tuesday, September 09, 2008

Lehman crashing a shocking 6.36 points: almost a 50% drop.

There's nothing scarier than a market that goes steadily lower with no obvious reason and no news. Today was a weakish down-day with down volume only 46% of up + down volume, far from a 90% downday. This time Transports joined the Dow in breaking preceding lows, so the downside is in harmony with both D-J Averages, no non-confirmations here. The volume leaders today included many large banks and financials with Lehman crashing a shocking 6.36 points to 7.79, almost a 50% drop. That's enough to scare even the staunchest bull. And where it ends, nobody knows.

Where's the damn outrage? -- The two CEOs who were relieved of their duties at Fannie and Freddie, as I understand it, received parting gifts of $9 million and $14 million. Disgusting! And what about the CEO's of all the big banks and the 219 local banks on the "watch list." They allowed their banks to buy so many toxic bonds that when the bonds were priced to market, the banks were seen to be under water. What happens to all these moron CEOs? Do they get kicked out with gifts of millions too? Where's the responsibility? Where's the justice? Where's the outrage? Why aren't charges brought against these fakers who got away with super-stupidity and derelictions of duty? Why are they receiving millions as they are kicked out of office? Disgusting, shameful, ugly! And there's no outrage.


Blogger Mabrook said...

Dear Doug,
My name is Inessa Haggag. I looked through your site and it attracted my attention by the varieties of the wholesome information. I have some credit cards web-sites where you can find useful information about finance and money. My sites are with high Alexa and Page Rank 3-5.
I'm interested in advertising on your blog. I'm looking for banners, text ads, paid reviews.
Contact me, please if you are interested in it.My e-mail: iumabrook@gmail.com
Best regards,
Inessa Haggag

3:10 AM  

Post a Comment

<< Home