Comments on: Tech stocks hammered as bailout fails in House

Stocks, including those of technology companies, took a beating after the House of Representatives fails to pass the government bailout of the financial sector.

[benjaminstraight]

Tough.

[AppleSuxLeo]

AAPL is going down the crapper ! Guess people are tired of overpriced white plastic junk. The shine is off AAPL. AAPL ? Nah , shine it on , man.

[sythara]

great time to buy stock

[moretroops]

The decline in tech stocks reflects the terrible market along with a dose irrational fear. It does not reflect fundamentals. If you're long you have nothing to worry about. In 5-10 years companies like AAPL will be back up -- way up. This turmoil, too, shall pass (eventually!).

[AlanHub]

i completely agree, the current stock plunging that we saw and worried over today, though may reflect our current banking predicament, does not consider that in the future, banks will consolidate and learn many lessons from our current fiasco. as the ignoble banks disappear, securities and liquidity will resurge!


hopefully

[Magallanes]

Those are the price per share and not the earning per share. So, the only affected are speculative guys but responsible shareholder will still earn money at end of the fiscal year.

[dirty55409]

Like the Iraq war and patriot act, this bill is fueled by fear and haste," -Lloyd Doggett, D-Texas

Stocks plummeted due to irrational fear... I wish I had money to buy up stock now everything is dirt cheap! buy buy buy!

[Commander_Spock]

Commander_Spock keep telling ya all keep your eyes on the Sparrows (the Financial and Economic Eagles) and they they do what they have to do:

Re: "IDB Helps Region Manage Food Crisis and High Fuel Costs"

Also,

"Moreno emphasized the IDB?s efforts to support Latin American and Caribbean countries against the effects of the food crisis, skyrocketing fuel costs and financial turmoil. He said the IDB is managing the crisis through three main channels: demand, supply and liquidity.

On the demand side, the IDB is strengthening and expanding social welfare and anti-poverty programs. On the supply side, the Bank is moving faster to launch and carry out programs to support agriculture, such as the PRONEGOCIOS program in Honduras, as well as programs to promote biofuels and to strengthen financial regulation. More liquidity is being injected into the financial system through budgetary support programs designed to buttress social welfare initiatives...."

http://www.iadb.org/NEWS/articledetail.cfm?artid=4773&language=En

If one cannot show leadership.... then follow the leadship of others.

[Commander_Spock]

Oops; Corrections: "keep your eyes on the Sparrows (the Financial and Economic Eagles of Latin America and the Caribbean) and watch what they do what they have to do" instead of "keep your eyes on the Sparrows (the Financial and Economic Eagles) and they they do what they have to do:"

[blognroll]

I'm rarely correct in my predictions, but I sensed there was no deal and this, along with the nursery rhythm Humpty Dumpty, that says, "All the kings horses and all the king's men, couldn't put Humpty together again," inspired this song:

Everything is Fallin' Apart
Dr BLT
words and music by Dr BLT copyright 2008
http://www.drblt.net/music/EveryThingIsDemo2.mp3

This is from the album, Lipstick: Soundtrack for the Presidential Election 2008. Stay "tuned" at:

http://www.drblt.net

[flared0ne]

(Jumping venues) I don't know if this is mathematically correct or not, but it's certainly interesting, and if it is, it has my vote....

Hi ,
I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.
To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife team has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else
More citizens file tax returns in order to get this dividend, so there's more tax compliance.
Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And, of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ("vote buy") economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!
As for AIG - liquidate it. Sell off its parts.
Let American General go back to being American General.
Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can "never work."
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than do the geniuses at AIG or in Washington DC.
And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
Ahhh...I feel so much better getting that off my chest.
Kindest personal regards,
Birk
T. J. Birkenmeier, A Creative Guy & Citizen of the Republic
PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!

[Nighteye19]

Why do you keep posting this on mutiple blogs? Like other have said, get a calculator! 85 billion/ 200 million = $425, NOT $425,000.

[j_a_s_p_e_r]

Hahahaha the guy cannot even get his math right

[BSinton]

Mein Got,

Your post actually makes sense. But the Financiers, Bankers and Politicians don't use anything like common sense.
The fact that they got you Americans into this mess shows that.

It is greed, greed and more greed. When will they ever learn , when will they ever learn - as the old song goes
I'm hiding down int the South Pacific and hope it won't bugger up us as well.

Good luck, you may find a receptive politician or even two.

[renGek]

Thats just sad and I'm embarassed for you and your math skills. You have this whole long post (of which I have seen dozens of times on many many site) and they allllll have the same math error. This is what happens when you are a lemming and just forward things without ever reading it and verifying a fact. Its like a simpsons episode. Ummm yeah you're not getting $425K. I made a calculator mistake. You're getting $425.

[ofmyony]

The incumbent elected officials have failed the American public again. After the failed vote for the Wall Street bailout of 700 billion dollars shows that are leaders are lost. Leaders on both sides blame each other. No solution is in sight. They are not showing leadership.

My solution is to ask for everyone to vote and to hold both parties incumbents responsible for the weak economy. Your officials have the power to fix the economy but they do not know how. Lack of leadership? Please vote

[j_a_s_p_e_r]

Check out "Burning Down The House: What Caused Our Economic Crisis? V2" on YouTube. Time Warner took down the original.

[xxczxd]

The prevention of financial crisis for the all-round expansion of economic crisis.

[jonkung_dotmac]

Of course we could just get out of the war. With all the money we've spent on that we could buy healthcare for every person in the US...

[Lerianis]

Quite true. Frankly, it is time for a constitutional amendment that takes the power over the Armed Forces away from the President and puts it into the hands of a Presidentially-appointed council.... which, by law, would not be able to be more than 50% from any on party or political ideology.

[jonkung_dotmac]

that is to say, insurance. sorry, Haven't had my coffee yet.

[chris12karen]

At the moment, I don't care so much about whether the bill was or wasn't passed.

What's most disappointing to me is that the House wasn't able to develop a bill that would (a) fix the problems and (b) also pass the House.

That failure to find a *successful plan* on *common ground* is an indictment of our representatives' leadership and collaboration skills. With leaders like this, it's no wonder that our economy is going to pot.