President Bush Warned Americans!

The warning is out for all Americans and lawmakers to get this $700 billion rescue plan approved. Bush stated in his address to the nation that if this bill isn’t passed American people would lose their retirement savings, rising foreclosures, lost jobs and closed businesses. Bush also stated “Our entire economy is in danger,” and he’s 100 percent right. I believe him and his top advisers that this bill is needed. I just don’t agree with putting our money on the line. But then again, our money is already on the line with huge loses if we do nothing. I said this in the past and will say it again; all CEO’s of these companies need to go to jail. They hid their mistakes and cooked the books to make their companies look good. And for that, they should pay. I will end with this, pass the bill now Congress, real Americans are getting hurt in the mess.

Tags: President Bush

Financial Markets!

The start today for the financial markets looks really bad. And at the end of the day it will be even worst. There’s only one thing that will save this day. And that thing is a really plan comes out from Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. Which both of these men will be in front of Congress on Wednesday for a briefing on the economy. Hopefully they will have some great news to deliver to Congress and the American people. The only way they will have good news to deliver is if we get their plan to buy $700 billion in banks’ mortgage debt moving. Because if we don’t we will have another bad start to a really bad week.

Tags: Financial Markets

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