Thursday, January 21, 2010

Down

Around noon-ish the DOW is down a massive 182 points. Has the second shoe dropped.

Allegedly investors are throwing a turd fit surrounding the threats of Obama clamping down on some "financial products."

Reuters: Stocks drop as investors shun risk
...Obama...will propose stricter limits on financial risk-taking in a move that may recall curbs on banks resulting from the 1930s Great Depression.

3 comments:

GlennK said...

Its the threat of the Volcker monster returning! Its about time Obama stopped listening to Summers and Geitner and started listening to someone who actually knows what he's talking about. the other to are just Goldman / Rubin flunkies. The markets though sense that the party is over for the greed heads at least for the moment.

Sande said...

So they tank the DOW in protest? WTF.

Tantrum time.

GlennK said...

Yep. their a strange bunch aren't they.