Wall Street’s Financial Problems!

It seems that Republican John McCain is under fire for stating that he would fire SEC chairman Christopher Cox and create a special trust. I really don’t know much about Christopher Cox to have an opinion on this matter. Here’s what I do know, Christopher Cox, a Republican and former 17-year House member who has served on committees overseeing investor protection and U.S. capital markets. And President Bush also appointed him in 2005. I also think that John McCain needs to keep his mouth shut about things like this and maybe read some books instead. I do know for a fact that the SEC has looked the other way a lot and maybe Cox should be terminated. But let’s not talk about it in the news, it’s a personal issue.

Tags: SEC, Wall Street

Russia Closed Markets!

Did you all hear about what’s going on in Russia? It seems that Russia is worst off than we are in America, which we already knew that. But it’s so bad that Russia ordered its main stock exchanges closed. They closed Wednesday after the RTS, a leading index, fell 6.5 percent and the MICEX exchange dropped 3 percent. By simply closing their exchange markets it will buy time for President Dmitry Medvedev to pump billions in to stabilize the markets. This will be the second day their markets will be closed. Maybe closing the exchange down and sending everyone on vaction for a little rest isn’t such a bad idea. Now you know I’m just joking here, but maybe that’s what everyone needs, a little down time and rest. We should also close our markets while the Fed works to stabilize. Maybe the Russian’s know something we don’t.

Tags: Russian Markets