Why is Washington melting down about Wall Street while the DOW is at -29 points today?

[cottonseed]

Could it be that we're being hoodwinked again? Look, if we need have government step in and fix the Republican's f*ck up, then we take our time and whatever we do, don't immediately give all the money, no strings attached to the same people responsible for this mess.

[Critters2]

1. I was thinking this, too. Just got back to the office from a mtg,

checked the Dow and thought :wtf:

THIS is a crisis? OMG! The Dow lost 30 points! Grab the kids and head for the basement! :eyes:

[Motown_Johnny]

2. the Dow is holding strong because they anticipate the $700 Billion bail out and Buffet just sunk

$5 Billion into the market

[Mojorabbit]

3. You can bet the plunge protection team

is pumping major bucks into the market too.

[kurt_cagle]

5. The market (i.e., foreign investors) wants a solution

Keep in mind that a significant amount of the stock market right now is controlled by overseas investors, and they in particular are jittery about what amounts to a default. They are looking for leadership right now, and increasingly I suspect they are looking for leadership from Obama, not Bush. Obama's laid out the foundation of a solution and I think the market's taking its cue from that rather than from Paulson's "plan". Just my read on the situation.

[cottonseed]

8. The DOW however is only 30 "industrial" companies.

Everything will be touched by a financial crisis, yes, but it does seems that no one is really starting to unwind their positions in non-financials.

[harun]

4. Obama should say, "Due to the relative stability now attained in the markets

no major bail out legislation will be passed until the next President takes office".

[cottonseed]

9. I approve that message!

That's exactly what he should say. Why in the HELL do we want to give our money to another Bush appointee? Have we learned nothing?

[AntiFascist]

6. Excellent point....

usually the stock market reflects impending doom, this would be healthy. I wonder if there isn't a concerted effort to keep the DJI above 10,000 until Obama wins the election, then they give the signal "dive, dive, dive!".

[chelsea0011]

7. CNN was talking about this today. They were saying we are be told the end is near but

the markets aren't showing it yet.

[cottonseed]

10. Bump my own because I like my point.