AP: Wall Street "experts" say "The government is doing a lousy job of alleviating fears"

[sabra]

http://news.yahoo.com/s/ap/20090223/ap_on_bi_st_ma_re/wall_street


NEW YORK – Wall Street has turned the clock back to 1997. Investors unable to extinguish their worries about a recession that has no end in sight dumped stocks again Monday. The Dow Jones industrial average tumbled 251 points to its lowest close since Oct. 28, 1997, while the Standard & Poor's 500 index logged its lowest finish since April 11, 1997.

All the major indexes slid more than 3 percent. The Dow is just over 100 points from 7,000.

"People left and right are throwing in the towel," said Keith Springer, president of Capital Financial Advisory Services.

...

"The biggest thing I see here is the incredible pessimism," Springer said. "The government is doing a lousy job of alleviating fears."

...

"It's only a very partial picture of what we may get," said Quincy Krosby, chief investment strategist at The Hartford. "This proverbial lack of clarity is damaging market psychology."

...

"There's no main driver of the down day," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "There's just so much skepticism in the overall market and (the question is) is the government doing proper things to get us out of this problem. Obviously the stock market is voting no."

[Tierra_y_Libertad]

1. If anybody isn't afraid of what's happening they're not paying attention or very drunk.

[Initech]

26. I'm scared shitless.

:scared: :nuke:

[Rambis]

2. Yep and all the pugs glooming and dooming is helping quite a lot

feckin hypocrites you got us into this mess! Any of them talking about money makes me :nuke:

[jaxx]

3. And notice, they take absolutely no responsibility for themselves.

[malaise]

4. I hope every Wall Street executive is living in fear

of prosecution.

[Spazito]

5. Gotta love this statement, it says it all...

"There's just so much skepticism in the overall market and (the question is) is the government doing proper things to get us out of this problem. Obviously the stock market is voting no."


The stock market aka Wall $treet is saying no because the Obama Administration is helping Main Street and not Wall $treet, the CEOs and the top 1%.

Maybe if the Market wasn't one big ponzi scheme, things would look different, eh.

[TahitiNut]

17. Nobody could've predicted that Wall Street would run short of Greater Fools.

:silly:

[Spazito]

20. LOL! n/t

[TheCowsCameHome]

6. The prisoners are telling the Warden how to run the prison.

[dkofos]

7. Maybe if they arrested and jailed more CEO's the people would feel better.

[FiveGoodMen]

10. Given their (CEOs) recent approval rating in the polls, I'm quite sure you're right.

[JVS]

14. Only public executions will raise the public's mood and confidence!

Anything less is a lousy statement.

[CountAllVotes]

8. you should have seen the parking lot at B of A

unbelievable. The parking lot was filled and people were in line going inside. I assume they were closing out their accounts, not that I blame them one bit.

NOT GOOD!

:kick:

[thewiseguy]

9. Hey asswipe, pay attention to the economic indicators. You should be afraid.

[madrchsod]

11. so? the poor babies can no longer have it their way anymore

they whine and cry just like babies...grow the fuck up boys and do your god dam jobs. if ya can`t then get the fuck out so someone can.

[gratuitous]

12. Wait, these free market warriors need the government?

Why can't they alleviate their own fears? Why are they asking the government to do for them what they themselves should be doing? Gosh Keith Springer and Quincy Krosby, these swashbuckling free marketeers look and sound like two-year-olds with soiled diapers up way past their nap time.

[Deja Q]

24. Hey, the truth isn't needed at a time like this.

:yourock:

[JVS]

13. Maybe because Wall Street has done a lousy job of handling the fucking money!

[Median Democrat]

15. You Know Ponzi Schemes Work Best When No One Tells The Truth

If no one blew the whistle on Madoff, perhaps he could have kept the charade going on a few more years. I guess the right wing says its Obama's fault for not offering more George Bush happy talk about the fundamentals of the economy are strong.

[jpak]

16. Wall Street Crooks can eat shit - and jump

They are the ones that got us into this mess.

[earth mom]

18. Those fucking crooks know that Wall Street is nothing but fraud & cooked books.

They have a lot of god damn nerve to blame it on anyone but themselves! :grr:

[SammyWinstonJack]

19. AWWW!

:nopity:

[tom_paine]

21. AP: Always haPpy to CAtaPult the Bushiganda.

:puke:

[BelgianMadCow]

22. It's really simple: *takes megaphone* OPEN YOUR BOOKS

fed and banks (and kind-of-banks) alike.

Show us the money. Or the lack thereof. NOTHING else is gonna help. And the opening will hurt a lot at first.

[tridim]

23. Would it be out of the question to form a brand new stock market..

and phase out the broken ones that are completely untrustworthy (at least to me)?

I don't invest in scams. Period.

Obviously this idea is incredibly simplistic, but it's the thought that counts. ;)

[DearAbby]

25. When I see Falling bodies of CEOs flying out of the sky

then I will worry. Wall street is pouting because they didn't get anymore no strings attached money to give bonus, private jets, exclusive vacations, lavish holiday parties....somehow I don't get the impression they were hurting all that much...if they are, they have no one to blame but themselves.

The squandering of the TARP Bailout they received didnt give me the impression that things were all that dire on Wall street...Sorry Boys, no more dough..the TRICKLE DOWN TARP didnt pan out...NOTHING TRICKLED DOWN...time for something else....HELP MAIN STREET.