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Dow Down to Almost 10,000

I stand by my prediction/opinion.

In October I was 100% stocks. In December I moved to 20% stock, 50% bonds, and 30% other "cash" investments.
 
P.S. I don't blaim Obama, or the Democrats, or even Bush! I see the primary cause of our current economic woes as greedy bankers taking unreasonable risks and causing both the housing boom and housing bust followed by the financial crash.

Believe or not, home prices do not go up forever! :rolleyes:
 
BTW, I welcome Obama's (Paul Volcker's) recommendation to rein in these out of control big banks.

Obama hits Wall Street, pushes for bank limits

Obama's announcement included changes that have been advocated for over a year by former Federal Reserve Chairman Paul Volcker — who appeared with the president at the White House — particularly by endorsing Volcker's proposal to ban banks that take deposits from also trading stocks for their own profit. The change would separate commercial banks from investment banks, a line that was blurred a decade ago by the repeal of the Depression-era Glass-Steagall Act.
 
I closed my account at Big Bank JPMorgan and moved them to a local credit union. Something I wish I had done years ago.
 
If people want to make the big banks smaller, just close your accounts at Bank of America (and other "big banks") and open a new account at your local bank/credit union.
 
The big banks/wall street firms that took the TARP money and are trying quickly to return it are only doing so to get out from under the Govt.'s microscope....some of them really should keep the money and get the free supervision, THEY NEED IT!

Bank of America had a losing quarter this week....
 
JupiterSunsation said:
The big banks/wall street firms that took the TARP money and are trying quickly to return it are only doing so to get out from under the Govt.'s microscope....some of them really should keep the money and get the free supervision, THEY NEED IT!

Bank of America had a losing quarter this week....
Click to expand...

Bank of America had a losing quarter this week.

But BAC sure had a nice run from $2.50 to $ 18.00 in 12 short mos :cheers2:
 
JupiterSunsation said:
I'm sure the investors that bought it @ $50 in 2007 are feeling real great about that rally! :eek:

Look at a 3,5 or 10 year chart before getting excited about the last 12 months.....
Click to expand...

Hey BIG Daddy i'm not worried about the investors from 2007 or a 3,5,or 10 year charts i'm just riding the wave , heres a few for ya to check out BAC,CYCC,SPPI,BJGP charts .....
Do the math and good luck in the market .

gotta run on the phone with OFFSHOREDRILLIN ROB and i can't type what he just said LMFAO ...:)
 
Last edited:
clayinaustin said:
P.S. I don't blaim Obama, or the Democrats, or even Bush! I see the primary cause of our current economic woes as greedy bankers taking unreasonable risks and causing both the housing boom and housing bust followed by the financial crash.

Believe or not, home prices do not go up forever! :rolleyes:
Click to expand...

Good point, Clay. I say re-instate Glass-Stegall.
 
The news last week was not bad it was just not as good as they hoped so people freeked a little bit. My guess is that after everything pans out the fears of regulation, the less then expected earnings..... will all wear off some and it will start to gain back the losses of the last week.
 
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