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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Wall Street Gets Two Days' Optimism

Today, Wall Street opens knowing that the Senate passed a version of the $700 billion Wall Street rescue/bailout (your call) bill.

The House is working toward voting on the bill on Friday. Last night, Rep. Barney Frank (D-Mass.), the plan's champion in the House, said he thought the odds of passage were "better than even."

So that means the markets will have two days of trading with relative optimism.

It's also the second day into the fourth quarter of the year, which traditionally is driven by consumer spending around the holidays. (Remember: two-thirds of the U.S. economy is based on consumer spending.)

Wall Street may take some encouraging news from UBS's report this morning that it expects to turn a small profit for the third quarter.

On the other hand, jobless claims rose last week to a seven-year high, driven partly by the effects of Hurricanes Ike and Gustav.

-- Frank Ahrens

By Frank Ahrens  |  October 2, 2008; 9:24 AM ET
Categories:  The Ticker  
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Comments

It is time for We the People to get our heads out of the sand and STOP hoping by some miracle the Democratic and Republican parties are going to become honest, Constitution defending and upholding representatives - THEY ARE NOT!!


THIS IS A DANGEROUS BILL!!


This move will change the entire power relationship between the Congress and the Executive Branch, as well as the power relationship between American citizens and our government.


To give governmental powers and obligations to financial institutions over our populace is clearly outside of the realm of the Constitution.

There is no sunset provision on many of the main powers granted by this legislation and thus these powers will become a permanent change to our government.

The 'revised' bill has NOT changed - just alot of enticing pork added - and We already know 'our' unscrupulous elected officials sellout all the time - that's why We're in this mess!


I seriously believe if We the People want REAL CHANGE and a hope for OUR future, We need to look into 3rd party candidates - with Obama or McCain We will continue to be in danger as they continue their 'push forward' into socialism and a dictatorship. They are 'opposite wings on the same bird.'

Posted by: calumonit | October 2, 1908 10:36 AM | Report abuse

LET IT BE SAID HERE FIRST.

1) CEAN OUT YOUR BANK ACCOUNTS NOW.

2) DONT YOU KNOW WHY THEY INCREASE IT?? IT BECAUSE THE SMART ONES ARE TAKEING THIER MONEY AND RUNNING TO LOCAL BANKS AND CREDIT UNIONS.

3) WHY BECAUSE THE GOVERNEMNT AND WALL STREET WANT ALL MONEY THATS WHY..WHAT THEY PAY YOU 1 TO 3 PERCENT ON IT /> /> BUT GIVE IT OUT AT 8 9 12 15 20 PERCENT..WHATS FAR WITH THAT PICTURE AMERICANS??

THE GOVERNEMNT WANTS TO HAVE ONLY WALL STREET AS BANKS..NOW STOP THEM NOW. TAKE ALL MONEY OUT OF MARKETS AND WALLSTREET.LET THEM GO DOWN. THEN AND ONLY THEN CAN WE THE PEOPLE GET BACK TO GOING DOWN TO OUR LOCAL BANK AND SHAKING HANDS AND SITTING DOWN WITH FREINDS AND GETTING A LOAN..WITH NO HASSELS, NO WORRIE, WHY BECAUSE THEY THE LITTLE BANKS WILL HAVE CONTROL OF ALL MONEY AGAIN.. NOT WALL STREET..

AND THAT S WHY THESE SCUM BAG SENATER PUT IN THAT 250,000 GARRENTY..YA RIGHT!!

THE FDIC DOESNT HAVE THE MONEY ....THEY HAVE COME OUT AND SAID THEY WILL HAVE TO GO TO CONGRESS FOR HELP..VERY SOON..WHAT A JOKE...THE WORLD WILL END THE WORLD WILL END..BULL CRAP..

TAKE YOUR MONEY PEOPLE....

YOU HAVE BEEN WARN.

OVER 200 OF THE TOP ECCOMMIST SAY THE BAIL OUT WILL ONLT HURT MORE AVERAGE AMERICANS THAT THE RICH.

THEY SAY NO BAIL OUT.. LET THEM CLEAN THEMSELVE OUT LIKE ALL AMERICANS HAVE TO.. THET SAY LET THEM GO THROUGH BANKRUPY PERIOD........LIKE SO MANY AMERICANS HAVE TO EACH DAY AND SO FAR OVER 10 MILLION THIS YEARS ALONE HAS TO AND IS GOINFG THROUGH IT..BECAUSE OF THESE SCUM BAGS.

DAVID A BELANGER
VETERAN
FOR-AMERICA@HOTMAIL.COM
9786183105

P.S. I FOR GOT ONE IMPORTANT THING!!NOT THAT THEY( MEANING WALLSTREET FAT CATS YOU KNOW THE ONES THAT HAVE DONE ALL THIS CRAP) THEY HAVE OVER 3 TRILLION DOLLARS SITTING OVER IN THE CAMIN ISLAND, JUST SITTING THEIR!!!!!!!!!!!!!!

MAKE THEM USE THIER MONEY..TELL THEM TO USE ALL THE TRILLIONS YOU STOLE FROM AMERICANS.

AGAIN LET ME STRESS THAT THE GOVERMENT AND WALL STREET IS TRYING TO GET ALL MONEY.

TAKE ALL MONEY OUT NOTHING IS SAFE RIGHT NOW.. NOTHING.. AND I DONT CARE WHAT THEY SAY IT WOULD BE MONTHS EVEN YEARS BEFORE YOU GET YOUR SO CALLED FDIC INSURED MONEY...

RUN AMERICANS RUN AND TAKE ALL MONEY OUT..WE THE PEOPLE DO HAVE A VOICE WE HOLD THE MONEY THEY NEED IN THIER BANKS...WE THE PEOPLE DO..SO GET IT OUT OF WALLSTREET AND ALL BANKS..GO TO YOUR LOCAL SMALL BANK AND GIVE IT TO THEM AND PUT SOME UNDER THE PILLOW..YOU WERE WARN

--------

Posted by: david,veteran | October 2, 1908 2:27 PM | Report abuse

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