Wall street is just getting weirder and weirder

[Adam Brooks]

Earlier i posted about the short selling ban, 799 companies cannot be sold short until oct 2nd. (that's now getting revised, the ban will probably be lifted for options market markers bc they are refusing to quote option prices!!! Basically there was no options market (imagine if no one wanted to buy or sell in the stock market, not good)

Goldman Sachs and Morgan Stanley were pitching a fit that they would be "shorted to death" after Lehman went down. Now it turns out that the 2 biggest sources of short sales from from those institutions themselves and also had the largest short volume when Bear Sterns collapsed according to this:
http://bigpicture.typepad.com/comments/2008/09/npr-sec-bans-sh.html

Our financial system in this country is terribly screwed up right now. NY Times is reporting our friends in congress are shitting in their pants (about time, we have been for a while now) http://www.nytimes.com/2008/09/20/washington/19cnd-cong.html?_r=1&oref=slogin
:(
we now have other poorly ran companies (GM, GE) that are trying to get on the ban list as well that have nothing to do with whats happening.

:stare

[Sprayaway Fox]

What would happen if there was no Wall Street? kinda sounds like a big casino to me. If everybody took care of there own retirement and there own biz and that is all they had to worry about. What would be the point of Wall street? Prolly a dumb question to some but I asked it.

[Smokey1226]

Well all i care about is i've gained back 8+ % that i lost so im a happy camper!

[Adam Brooks]

wall street = the pinnacle of American capitalism. no wall street = communism/socialism

the markets gains in the next few weeks will not be sustained. They're being artificially propped up by the gov right now which isn't really working quite as planned. Lots of the stocks on the restricted list closed way off their highs today even though the markets finished up.

[lordairgtar]

Yesterday I checked my investments and I had lost 2 grand and this morning I see I got 1 grand back. Hopefully, this continues to repair itself.

[ND4SPD]

Earlier i posted about the short selling ban, 799 companies cannot be sold short until oct 2nd. (that's now getting revised, the ban will probably be lifted for options market markers bc they are refusing to quote option prices!!! Basically there was no options market (imagine if no one wanted to buy or sell in the stock market, not good)

Goldman Sachs and Morgan Stanley were pitching a fit that they would be "shorted to death" after Lehman went down. Now it turns out that the 2 biggest sources of short sales from from those institutions themselves and also had the largest short volume when Bear Sterns collapsed according to this:
http://bigpicture.typepad.com/comments/2008/09/npr-sec-bans-sh.html

Our financial system in this country is terribly screwed up right now. NY Times is reporting our friends in congress are shitting in their pants (about time, we have been for a while now) http://www.nytimes.com/2008/09/20/washington/19cnd-cong.html?_r=1&oref=slogin
:(
we now have other poorly ran companies (GM, GE) that are trying to get on the ban list as well that have nothing to do with whats happening.

:stare


Hence why I put my 80% of deferred comp into bond funds several months ago (the other 20 is in stock and international). They're not going to spiral the way the stock funds are right now. Then when things start to stabilize I'll reallocate.