Thursday, May 06, 2010
Government risk
Today, at least, government is the problem:
Worries about Greece's debt crisis and the pending overhaul of Wall Street's regulations sent stocks sharply lower Thursday, putting major indicators on track for a third straight decline.
MORE: Fat-fingering played a part, too. Tomfoolery all around.
8 Comments:
By 
MTF, at
Thu May 06, 04:14:00 PM:
Well, that, plus a reporting mistake on a trade that may well have set off automated sell programs (via Capt. Ed). This will have to be fixed (/sarcasm).
By Bomber Girl, at
Thu May 06, 04:37:00 PM:
Well, isn't Citi a GSE? Just sayin'.
By 
Billy Bob Corncob, at
Thu May 06, 07:34:00 PM:
Should we let Greece go under? Well, more properly, should the ECB?
By Bomber Girl, at
Thu May 06, 07:54:00 PM:
Hard to say, BBC. We are all (Europe/US) living on borrowed time/borrowed money. We can pay now or pay later. I, personally, would prefer to get it out of the way, finding that there are so few politicians (abetted by voters) willing to make difficult choices which would alleviate the long term pain.
By JPMcT, at
Thu May 06, 09:10:00 PM:
The price to save Greece seems a fraction of the price to save Fannie Mae.
Hard to believe that the market was concerned about Greece.
When was the last time they produced anything?
Kind of like US!
By Simon Kenton, at
Thu May 06, 10:18:00 PM:
I am pretty irritated about this. Most of my stops were triggered, some of them several percent under the planned execution point. I am out transaction costs, dividends, profits that existed until this morning. On the other hand, those stops were set after some study, and they may not have been wrong. It's hard to see our present course - nationally and globally - as leading to any wide positive economic benefits. Was there anything rational about this rally, ie, had anything changed so positively as to make stocks in general an investment, where "investment" is the Grahamian "safety of principal and mathematically calculated probability of payouts."
My first thought was to get back in. My second is to think some more.
By MTF, at
Fri May 07, 01:16:00 AM:
Trades from the afternoon may get reversed, so the decision might well be made for you.
By , at
Fri May 07, 10:11:00 PM:
I don't understand why the USA should borrow money from China and give it to Greece.
Why doesn't China give the money to Greece if it's such a great idea?
