Eman - PG

So how much cash did you lose in the market today with most stocks getting absolutely murdered? The US market cap shrunk by about 1 Trillion today thanks to Congress. That's 1 Trillion that vanished from 401ks, pension funds and people's net worth (and ultimately US taxes).

http://www.marketwatch.com/news/stor...79}&dist=msr_1

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noone1

Finally someone else who realizes this. People complain that we shouldn't spend $700B to bail out these companies, yet they don't seem to realize that doing so wiped out trillions today. And that's just the US. Asia and Europe are on the chopping block next.

slavdogg

wall street revenge

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Minte

Even though it's brutal, the market was long overdue for an adjustment.
In the long run,it will be a good thing.

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Phoenix

i was going to say the same thing

i think the adjustment will be good for the economy in the long run

you can only slap bandaids on a dam so long

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Eman - PG

It's pretty funny if you read the comments in some of those articles made by the readers. They all seem to complain about "tax payer's money" being used to save "Wall Street and the CEOs". What the gov would be buying from the banks isn't worthless even though the mark-to-market accounting rules say so. The plan would actually make tax payers money over the long run. As far as Wall Street goes, it's the people who ultimately end up getting fucked when banks go bankrupt as their life savings and retire funds go down the drain. Almost every generic mutual fund and pension fund out there had exposure to financials.

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Eman - PG

The major problem is not about the 'blip' in the chart. It's about the markets that the everyday public doesn't hear, read or know about. The credit markets are frozen. Investors don't want to touch corporate bonds. Tbills are yielding 0%. Banks are afraid to loan each other money and companies that depend on loans to survive are finding it harder and harder to get financing. This means more bankruptcies and more lost jobs outside of the hundreds of thousands of jobs in finance that already evaporated worldwide. This bailout is not about saving the stockmarket, it's about saving the underlying financial system that the US and global economy runs on.

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Nikki_Licks

We have not checked as of yet. I am sure we got hit hard.

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Forsaken

I would point out that it hasn't 'cost' anything until people liquidate.... Nah alarmism always makes for better headlines!

// Pet peave when people talk about how much they made or lost in the securities market before they've actualy sold.
/// Market is going to adjust sooner or later anyway, why waste a few billion delaying the inevitable.

*KK*

Indeed, unless you either sold out or some stock you owned was de-listed, you can't say for sure the actual loss...

Has anyone noticed that this whole mess has occurred because loans were made on overvalued property (real estate this time) -- in a similar manner to the 1920s (overvalued stocks instead of real estate)...

You can't just make something out of nothing, and if a trillion dollars "disappeared" maybe it wasn't really there to begin. I'm not thrilled with my account statements for the month, or the year, but luckily I'm not a day trader and I've had quite a bit of my stuff for years, so while it's not pretty, it's not as bad as it could be.

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Forsaken

I agree 100% TBH right now it's nothing like the depression's fire-sale market IMHO.

Although it's a drastic correction it's still a technical correction, as opposed to a blind run on the market. I'll really worry when it goes on an outta control run.

// analogy about money 'dissapearing' that wasn't there in the first place sums it up in the nutshell.

SanctimoniousPrick

US national Debt

Money on hand!
In currency, the United States has $1.378 trillion
On demand deposits, $6.991 trillion.

N I G G A P L E A S E!

You Motherfuckers are deep in shit.

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james_clickmemedia

Great time to buy some solid companies...

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Daze

I didn't lose a penny.

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*KK*

It's also relative to the internet bubble of 2000 -- all those overvalued stocks making something out of nothing, then falling back to nothing. A natural correction is bound to happen, the laws of economics aren't called suggestions...

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