Senator Feinstein says ‘It’s all fallen apart’ on budget talks

[bluesbassman]

Source: forexlive

Dianne Feinstein is a democratic Senator from California.

The market is really taking a nosedive on this. This feels like nerves are overly frayed and the market is overeacting. It’s hard to image talks have really ‘fallen apart’, the sides aren’t so far apart that they can’t hammer out a deal that lasts a few months.

Read more: http://www.forexlive.com/blog/2013/10/15/senator-feinstein-says-its-all-fallen-apart-on-budget-talks/

---

Nothing more in the article, not sure what the context of this quote was.

[jakeXT]

1. U.S. Stocks Extend Declines After Feinstein Says Deal Fell Apart

U.S. stocks extended declines after Dianne Feinstein told reporters an emerging agreement in the Senate had fallen apart, reducing optimism that lawmakers will reach an agreement on extending the debt ceiling.

The Standard & Poor’s 500 Index fell 0.7 percent to 1,697.41 at 2:46 p.m. in New York.

Senate Majority Leader Harry Reid rejected a House plan to halt the fiscal impasse, as Senate leaders put on hold bipartisan talks aimed at ending the 15-day-old government shutdown and preventing a default.

“It’s all fallen apart,” Feinstein, a Democratic Senator from California, said of the talks on a budget deal.

http://www.bloomberg.com/news/2013-10-15/u-s-stocks-extend-declines-after-feinstein-says-deal-fell-apart.html

[bluesbassman]

3. Thanks jake, just found that too. Still no context as to the quote.

Sure like to know more about why she said that.

[GeorgeGist]

17. Sure like to know more about why she said that?

an emerging agreement in the Senate had fallen apart,

[bluesbassman]

26. Yes, like did she just blurt it out as she was running down the hall with her hair on fire...

Or was she asked a question. You know, context.

[Jackpine Radical]

33. Maybe her dear hubby was doing a little short-selling

in advance of her crashing the market with her Chicken Little routine.

[MindMover]

2. and the greed starts ..... anew ...

David
October 15, 2013 at 18:45
This is great, these next 3 days are going to be a traders dream. Hope nothing gets done over the weekend either, next week will be a massive week.

[NRaleighLiberal]

4. Dow down only 84? Just a normal bobble - relatively speaking, there's been very

little market reaction to any of this - which is both interesting, and a bit odd.

[bluesbassman]

5. The shorters trying to gin up some action?

Anything to manipulate the system.

[NRaleighLiberal]

6. indeed - how're you doing, my musical friend?

[bluesbassman]

9. Doing well thanks.

The band has been ramping up lately, played a full four set gig weekend before last and have another next week. Lots of fun

How's things with you and yours?

[NRaleighLiberal]

13. just fine - back from two weeks vacation...awaiting book editing chores -

enjoying the Red Sox and Patriots. It's all pretty damn good (except for the anger generated by Republicans!)

[bluesbassman]

15. Well, go Red Sox. The tigers took out my A's so I'm rooting for Boston now. :)

Patriots - not so much.

[karynnj]

7. As of a minute ago, the DJI was down 81 points -- it is over 300 points higher than it was Thursday

Fox News seems over blown on the financial reaction. They are still waiting.

[DJ13]

11. The institutions like lulling the small investors into a false sense of security

Then a sudden drop near the end of the day makes them more money.

[karynnj]

18. How do you figure that?

The only people who really lose money that would not have had the market collapsed this morning are those who intend to sell WHEN it falls. If they were concerned that the market could permanently fall or if they know they will need the money in a relatively short period where they assume it will still be down. I would bet that most small investors who have near term (lets say 6 months) need for money from their stocks likely would have moved out of the market weeks ago when there have been threats of first the government closing and then a default.

[munster69]

8. Wall street bankers won't let a default happen

If there was any chance at all the market would be down a few thousand points by now. Its just a dog and pony show and the republicans are the main act.

[MindMover]

10. the main stupid clown act

[caseymoz]

12. They're not voting in Congress.

I think they've lost control. The oddly measured response of the market could be denial.

The only hope I have now is that Pat Robertson told the GOP to back down. That might carry more weight now. However, Pat didn't mention that not paying your debts when you were able to was a sin. He should have taken that tact.

You know the Repubs have lurched Right when Pat Robertson is the moderate.

[libdem4life]

19. He's not a moderate...his take of the SS folks' money, excuse me, tithes is down.

[caseymoz]

31. Please note a little levity there.

Isn't it a all ironic to think of Pat Robertson as the voice of reason in this?

[Liberalynn]

16. A reporter on Morning Joke said Boner is not even listening to his billionaire contributers anymore

he's joined the pukers in their plastic bubble.

[alcibiades_mystery]

23. I think a lot of people are about to have their "Wall Street Runs Everything" dogma tested

You may not like the results.

[JI7]

29. Wall Street has been trying to stop this, the TEa Baggers are something else entirely

[NoOneMan]

14. Shockedy Shockedy Shock

Hope you are all scare shitless. Itll make the 11th hour austerity fuck over that much more acceptable.


Oh yeah, perfect is enemy of good and all that shit. Get your talking points in order

[bobGandolf]

20. Why the hell are we even negotiating with them?

Can someone, anyone, show me an example of where the republicans have negotiated in good faith since Obama has been in office. Why, as democrats, are we always running scared of them?

[lumberjack_jeff]

21. Current events only make sense if the Benny Hill theme music is playing in the background. n/t

[PasadenaTrudy]

30. And here it is...

[Deny and Shred]

22. Your headline got me to put on CNN

I am watching Nunes (R-CA) on CNN now. He is saying "it is likely" there will be a House vote tonight to try to end-run the Rule Change from Sept 30th. The markets are basically unchanged on this news.

He basically ripped the Tea Party a new one.He called their choice of either defund Obamacare or default "lunacy." He had a general 'let's get back to sanity' message with the Tea Party squarely in his sights. I don't know this guy. It seems to me like he was sent to address the issue in a Republican non-Tea Party way.

This rift in the Republican party is coming to a head, and the non-bat-sh*t insane elements of the party (not necesarrily sane, but not insane) have determined that they do need to weigh in. They tried to not have a showndown, but none of the usual tricks have made these new reps back off. Pro-business elements now need to drop the kid gloves and enter the fray. That's how I read it.

Wouldn't it be sweet if this got to the point where they formed their own party? The Koch creation becomes a real boy, runs away, and splits the party ... now THAT would be karma!

[brooklynite]

24. Newsday: Stocks slide as debt ceiling crisis deepens

Stocks went into a deep declines Tuesday, after Sen. Dianne Feinstein (D-Calif.) told reporters an emerging agreement in the Senate had fallen apart, reducing optimism that lawmakers will reach an agreement on extending the debt ceiling.

About the same time, Senate Majority Leader Harry Reid rejected a House plan to halt the fiscal impasse, as Senate leaders put on hold bipartisan talks aimed at ending the 15-day-old government shutdown and preventing a default. "It's all fallen apart," Feinstein said of the talks.

At midafternoon on Wall Street, the Dow Jones industrial average was down 109.2 points at 15,192.1. The Standard & Poor's 500 index was off 10.1 points at 1,700, and the Nasdaq composite, which had gains earlier was down 17 points at 3,798.2.

The S&P 500 index closed Monday at the highest since Sept. 19 as Senate leaders expressed optimism that a deal can be made to end the partial government shutdown and prevent the U.S. from breaching the debt ceiling in two days.

http://www.newsday.com/business/stocks-slide-as-debt-ceiling-crisis-deepens-1.6256907

[Myrina]

25. Crap, I don't have much in my 401k (just started it) ...

... if this keeps up I am going to get a bill from them instead of any kind of cash.

I probably should have paid closer attention & not enrolled just yet ....

[Deny and Shred]

27. Not to worry

A 401k is simply a type of account, not any particular investment. In short, it has tax advantages if you wait until 59 1/2 before withdrawing any funds.

One puts money in a 401k, and then typically buys a security, a mutual funds for example. Any purchase in a 401k is made in cash (no margin); therefore, you would never get a bill. Your investment may lose money, but you can't be charged more than you put in.

If you are truly worried the market may tank, you ought to be able to sell any investments that might have been made and 'sit in cash' as they say. You won't make anything in cash, but won't lose either. When in cash, you are free to buy invstments any time you choose. The idea is you sell now, the markets flops, and you buy later at lower prices.

Peace

[Steviehh]

35. 401k

Lost 30% on first 401k. Explained it was a bad market, but stay in for the long term I was advised. Real money to you, capitalism to the rest.

[RussBLib]

28. looks like the GOP is going to do it

Right over the fucking cliff. Billions will be lost from citizens retirement accounts, but that doesn't seem to matter to the children of the GOP. Interest rates will shoot upwards, vastly increasing the current debt by hiking what we have to pay back. I bet they haven't even thought about that. They need to be made to pay with their jobs, at the least. Public humiliation would be good. Put some of them in the stocks. Crap like this could push some rather unbalanced people over the edge. The GOP is going to have targets on their backs, and they're the ones that put them there.

[AlinPA]

32. IMO, the problem will be more long term; other countries will have more doubt about investing

in the US and the also the interest rates will rise on our bonds, further adding to the national debt. Even US banks and citizens could stop buying US bonds (I bonds, T-Bills, etc.). Boehner does not care and is working towards his default goals.

[Steviehh]

34. Feinstein

who never met a surveilance program or MIC she didn't like.

Time to go . Jerry Brown for Pres.