<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Wow, the stock market!!

Wow, the stock market!!

September 18th, 2008 at 07:24 pm

I can't get over the stock market today. Did I see it right? Has it been way up and way down today?? When my dh comes home from work, he asks me how much money he lost today!
I don't even want to look at my funds right now.

Posted in Uncategorized | 12 Comments »

12 Responses to “Wow, the stock market!!”

  1. Joan.of.the.Arch Says:
    September 18th, 2008 at 08:07 pm 1221768465
    1221768465

    Ha! I've had the radio off today and have not logged onto a single news or business site. I overdid it a couple of days ago.

  2. merch Says:
    September 18th, 2008 at 08:09 pm 1221768541
    1221768541

    Up huge becease RTC part 2 coming back for bad debt.

  3. Broken Arrow Says:
    September 18th, 2008 at 11:19 pm 1221779967
    1221779967

    This is just my personal opinion, but I think we're looking at the worst of it. However, that doesn't this financial collapse is over yet. Nor have we seen the bottom. And the sector has yet to begin to stabilize.

    Which means, most likely, more bad news is yet to come. However, today is quite decidedly a rally! A great, great day for me! Big Grin I doubt if it'll hold though. Not like that freak run on July 15th, I think this is just a spike on a piece of good news. We'll have to see tomorrow.

  4. fern Says:
    September 18th, 2008 at 11:32 pm 1221780775
    1221780775

    I HATE it that once again they're freely using OUR MONEY to bail out AIG. Let the damn company fail. They brought it on themselves, did they not??

  5. baselle Says:
    September 18th, 2008 at 11:57 pm 1221782223
    1221782223

    What the Las Vegas dealer says after you are busted: Ladies and gentlemen, thank you for playing.

    I kinda feel like that right now.

  6. swimgirl Says:
    September 19th, 2008 at 02:11 am 1221790299
    1221790299

    We have an extra paycheck coming in a few days... and I'm using the entire thing to buy stock. We don't have any urgent needs right now, and as a woman on NPR said today, "When winter coats go on sale for 30% off, I buy one. I will do the same for stocks!"

    I've been making some decisions, but of course, I will continue to watch until the check arrives.

  7. disneysteve Says:
    September 19th, 2008 at 02:14 am 1221790479
    1221790479

    We actually "made" $7,200 today. Our REIT was up over $6/share. A few other things were up, too. Of course, we were down over $16,000 as of yesterday.

  8. merch Says:
    September 19th, 2008 at 03:03 am 1221793382
    1221793382

    Fern:

    This is the deal. Just to be clear about the deal. It's an $85 billion 2 year revolving credit loan at 3 month LIBOR + 850 bps.

    The loan is collateralized by all the assets of AIG which is estimated to be be about $1 trillion. Just the air leasing and foriegn life insurance division are estimated to be worth about $94 billion.

    The other piece is a 79.9% equity stake in AIG, where the government can veto dividends to common and preferred shareholders.

    Now the 3 month LIBOR is around 2.88. Or, the interest on the loan is 11.38%. That ain't cheap money and the government has enough power to liquidate the company and get their money first. But it did this to give AIG time to unravel and not have to put everything on a fire sale.

    They should make more money then chrysler deal which netted 100 million.

  9. fern Says:
    September 19th, 2008 at 12:01 pm 1221825714
    1221825714

    Thanks, merch. I'm not sure i understood everyhing you said, but it seems clear you're following the AIG bailout more closely than me. Let's hope the govt practices restraint and wisdom...for once.

  10. disneysteve Says:
    September 19th, 2008 at 12:27 pm 1221827231
    1221827231

    fern, the bottom line is that some of these bailouts will actually result in a PROFIT to the government in the end, thereby benefiting taxpayers.

    Allowing companies like AIG that are so intricately woven into the financial fabric of this country (and other countries) to fail would be catastrophic to the entire economy and simply wasn't a feasible option.

  11. fern Says:
    September 19th, 2008 at 07:40 pm 1221853244
    1221853244

    If that is true, Steve, then it should have been run and managed by the federal government, not as a private company that enriches its owners.

  12. disneysteve Says:
    September 20th, 2008 at 01:16 pm 1221916568
    1221916568

    fern, there is a lot of debate right now about the fact that executives from these companies still earned millions while the companies were going down the tubes. Something needs to be done about CEO and other exec compensation. I have a feeling that when this whole mess is over, we're going to see more regulation of banking and the securities industry, something we've needed for a long time.

    AIG had 74 million clients in well over 100 countries. A company like that going bankrupt would have far-reaching effects.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]