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Updated on Aug 10, 2011 at 2:42 AM by
DailyBail
UPDATE - FINALLY - SEC Regulators send subpoenas to high-frequency traders - Reuters
Video: S&P 500 Futures Pit on May 6, 2010
Absolutely amazing. This is how Armageddon sounds.
CNBC Video - Santelli goes to war with Steve Liesman - Aug. 8, 2011
A must see from Monday afternoon after Obama's miserable press conference sent stock indexes plummeting.
Video - Johnny Carson - Lie Detector Politician
I remember this sketch from my youth. This is pretty funny.
Updated on Aug 9, 2011 at 4:14 PM by
DailyBail
UPDATE - DOW closes up 430 points.
The DOW is extremely volatile after the FOMC statement was released minutes ago, quickly shedding 200 points and trading down more than 60, before briefly turning positive again.
Full FOMC statement is inside. I have highlighted the section referring to a possible QE3.
Selected stories from around the web this morning.
Most interesting about the longer term chart (1970-2011) shown inside is the fact that the program is hard to escape. Once a family starts on food stamps, the chance of getting off the program is slim.
J.P. Morgan is getting rich off of poverty.
JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes.
CNN Video - Jack Cafferty - Aug. 8, 2011
Cafferty tells the truth about the debt ceiling and the irresponsibility of Washington politicians. Watch the first 3 minutes.
A few evening links:
AIG sued BAC for $10 billion today (for massive mortgage fraud) which sent the stock down 21%. Details including a copy of the lawsuit are here. Story from CNN inside.
This is not good late-afternoon news for European equity and bond markets.
AMSTERDAM -(MarketWatch)- The Netherlands joined Germany Monday in warning against boosting the volume of the euro zone's rescue fund, saying it won't solve the problems in the currency area, and it even may hurt the solvency of guarantornations.
In a letter to lawmakers, Finance Minister Jan Kees de Jager said that an increased European Financial Stability Facility is "no panacea" to solve the mounting troubles in the euro zone. "Any significant increase of the EFSF can...have consequences on the creditworthiness of guarantor nations," he said.
A bigger EFSF therefore shouldn't be seen as an alternative to achieving structural reforms and debt sustainability, he added.
Aug 10, 2011 at 2:43 AM
