Posted by BuffetHater on September 5, 2008, 6:14 pm
Fed to bail out FNM & FRE to lower mort rates, stock holders
common and pref are SOL. Market up 2% on S&P500
if afterhours (toldyaso, was just an hour early, LOL).
Will be selling my SSOs (bombed on the QLD, who knew?) at
the open on Monday. Expected a huge relief rally at 3PM
as everyone screamed 'double bottom held up' but it was just
generated a bit later.
My sympathies to anyone holding any financials, you have
suffered enough.
Posted by BuffetHater on September 5, 2008, 6:36 pm
BTW, just got an email laughing about 'Cramer' (tapes his show before
the
FNM &FRE news was out) 'alluding' to the press release which was
obviously leaked to him and half of wall street before it was
'announced'
on CNBC.
Any bets the SEC will NOT act on this 'collusion'?
I just figured it was normal, run of the mill, standard, market fraud
that
caused the noon bounce. . . . suspected they would rally it up 200
into close. Had no idea the money boys had manufactured some
thing bigger.
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