Tomorrow Morning Wall Street is going to vote on John McCain's stunt

[grantcart]

I predict a massive sell off in the first 3-4 hours and a miracle will bring the 'House Republicans' in the fold.


It will confirm that Wall Street has no confidence in McCain.


Of course I don't own any stocks so my opinion is as valid as Sarah Palin's.

[gravity]

1. Dow futures down 125 points

[theothersnippywshrub]

10. Down 143 now. The voting has begun.

[theothersnippywshrub]

17. Back to down only 123.

[grantcart]

18. have a good link?

[theothersnippywshrub]

22. Just watching CNBC. You have to have an account to get real time futures quotes

at any of the sites that I know of.

[gravity]

26. There is a 20 minute delay, but here you go

http://finance.yahoo.com/indices?e=futures

[Barack_America]

2. Democrats should send out a message: "Check your 401K tomorrow and thank John McCain!"

His stunt is going to cost a lot of Americans their retirement savings.

[DontTreadOnMe]

3. I am willing to bet...

my entire 401K that the market will drop 500 pts tomorrow... any takers? (either way I win!)

[Larry in KC]

39. Big whoop. Risking $30. Wait, $25... $20...

[doc03]

4. I think the Democrats should walk out on the negotiations

putting the blame in no uncertain terms on McCain for making it a political dog and pony show.

[Barack_America]

7. I don't. I think they should just stand firm for increased regulation.

And say that they are not going to let the American people be put in this position ever again.

[doc03]

11. What ever happens it is clear the Republicans are using this

thing as political theater to rescue McCain. If the Democrats agree to anything the Republicans are going to give McCain the credit for making it possible.

[iceman66]

9. Wouldn't that be great?

[JerseygirlCT]

5. Yeah, but does Putin fly over *your* house? nt

[still_one]

6. I would think that mccain just lost some big money donations from this stunt

and as people look at their 401Ks, pension, and retirement plans, along with mccain privitizing Social Security

I would think this should backfire

[TexasObserver]

8. The DOW will dive by triple digits tomorrow, and McCain's last minute intrusion will be the reason.

I do not like the bailout, but I like McCain's political use of the issue even less. His free market solution is sheer idiocy. Democrats should tell him "ok, big guy, you get out there and sell this idea to America and then we'll reconvene when the public is ready to support it."

[Bad Thoughts]

12. You won't have to wait until morning to know the score

Frankfurt and the Asian markets will react first ... and quite badly.

[grantcart]

13. yup

[grantcart]

14. .

[grantcart]

15. .

[Barack_America]

16. Early "voting" already has it down 130.

I think we might just see a quadruple digit dive tomorrow.

http://money.cnn.com/data/afterhours/

[Kurt_and_Hunter]

19. John McCain will remove more than $700B from the global economy for a stunt

[Kahuna]

20. Yep..

:popcorn:

[anigbrowl]

21. It'll tank. Washington Mutual just went under.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBEEMxmXu4CY&refer=home

[grantcart]

23. holy shit

[wicket]

34. holy shit indeed....

:wow:

[doc03]

24. Just saw McCain's economic advisor on CNBC saying

how John McCain is doing what he does best bringing the parties together to forge a deal.

[Chasing Dreams]

25. It could be the biggest drop yet: 500 points, perhaps even

causing the circuit breakers to kick in.

CIRCUIT-BREAKER LEVELS
FOR THIRD-QUARTER 2008
In the event of a 1200-POINT decline in the DJIA (10 percent):

Before 2 p.m.
1-HOUR HALT
2-2:30 p.m.
30-MIN. HALT
After 2:30 p.m.
NO HALT

--------------------------------------------------------------------------------
In the event of a 2400-POINT decline in the DJIA (20 percent):

Before 1 p.m.
2-HOUR HALT

1-2 p.m.
1-HOUR HALT

After 2 p.m.
MARKET CLOSES


--------------------------------------------------------------------------------
In the event of a 3600-POINT decline in the DJIA (30 percent), regardless of the time, MARKET CLOSES for the day.

[RollWithIt]

27. Fed is still active, brokered a deal tonight for the sale of WaMu non non mortgage assetts...

Morgan Stanley is the buyer, their mortgage side will be bailed out by the Fed one way or the other. That has basically been made clear, it's all over but the campaign ruining photo ops for McCain.

[grantcart]

28. actually it was the FDIC wasn't it

won't that be a bad sign

[vaberella]

29. It won't fall. We have 2 weeks. Most people were not paying attention.

It was supposed to be done, but it was not expected to be done at the end of the week. It can go on to next week. And the officials have mainly been speaking in 2 week terminology. It was Paulson/Bernanke who were setting dates for less than a week.

[grantcart]

30. Yes but there is no path for it to happen now if House Republicans won't give it some support

It appears to have been sabotaged.

[vaberella]

32. Agreed....For now. This won't last because it we know and they know they can't go on.

So they will come to a decision and it will follow along the lines of what was previously proposed. I doubt, I sincerely doubt, the House Repubs have a plan to change anything. That being the case, and the fact the Dems have been working on a plan for several days now----and nothing from the Repubs...we know that it will go the way of the Dems.

Of course the debates will go on so McCain's plan is shit and will not work in his favor.

[Lochloosa]

38. BS. My wife is paying attention. Most People are paying attention.

She got PISSED at me tonight because I turned the channel and said I could not watch anymore of this.

[Frumious B]

31. The Republicans need to be called out on this.

I want to hear variants of the words "John McCain and the Republicans in Congress are playing Russian roulette with the economy, your investments and your retirement."

[vaberella]

33. They are close to saying that. They will eventually say it. Reid was tough on their ass. n/t

[Phx_Dem]

35. And the blame will be laid at McCain's feet. Hopefully.

Everytime I hear the pundits and commentators talk about McCain's love of Hail Mary passes, gambling (as Buchanan and Roger Simon discussed tonight on Countdown) and "mavrick" moves, it brings to mind McCain's biggest mavrick move which, reportedly, took place in 1967 on the deck of the U.S.S. Forrestal. We all know how that turned out yet McCain continues to take risky chances and make mavrick moves cuz he thinks it makes him cool. I think it makes him a reckless fucking idiot who scares the shit out of me.


http://judicial-inc.biz/82jjohn_mccain_and_the_uss_forresta.htm
http://milfuegos.blogspot.com/2006/01/navy-records-on-uss-forrestal-incident.html

[grantcart]

36. well without agreeing on the Forrestal story thanks

[Lochloosa]

37. 500 Point Drop tomorrow. IMHO

[Marrah_G]

40. I'm thinking you are right

If for no other reason then extreme confusion and fear on a Friday.

Wamu was down 25% at the end of today and then WHAM..... within hours it was gone.

[Lochloosa]

41. I'm thinking it might be worse than that

[grantcart]

42. they have software breaks that will slow anything bigger than that