Current Financial News

“Some [European] banks will fail, but there won’t be a Paulson plan for Europe,” says Philippe Martin. In the US, the taxpayer bears a significant portion of the risk. “Nationalization means we give you money, but we take the power. We fire the management, and when the situation gets better we sell the assets and the government makes a profit on some assets.”

Good for them, take that America!

Jack in the ShiningHave investors, shareholders, and our government lost their mindsBailout, Schmailout.  Can't wait to see tomorrow's tape, welcome to the Overlook Hotel, no work and no play makes Jack a dull boy indeed.

Masters, bottom line, keep a large cash position at this point, there's no need to risk your neck. 

Good Lord.  The market is recovering on hopes that our lawmakers (on vacation today FYI) can put the Rescue/Bailout Plan back together.  Buyers are out in force today, much like a battered spouse after they trashed your car, but she won't do it again, right?

Fellow Masters, we hope you are still in it to win it and got some gains back today.

I think we all saw this coming, you can't have a 700 point drop in the DOW and not expect to lose a few clients. So in the nearly $2 trillion world of hedge funds how much will be cashed out ASAP? If you were that rich and had money there, wouldn't you want to hit the 'CASH OUT' button? Worse yet, what will this do to the market?

After yesterday's beating, its always nice to see a Upgrade that makes sense, today its Intel (NASDAQ:INTC).  Piper likes Intel despite the uncertainty in the broader economy, you can't mess around with the world's biggest chipmaker on a day like today. Shares of INTC are up 6% today and trading in the mid $18 range.

How about that for numbers, puts that $700 Billion Plan into perspective.  The loss in market cap to the Dow Jones Wilshire 5000 Index came in at over $1 Trillion gone.  But hey, McDonald's has served over 1 billion, let's let them run the country, they can do better.

Expensive day for all Americans, just bad.

Fear: Its what for Dinner

Today the DOW falls 700 points, what will tomorrow bring?  New lows and more fear.  We now live at Cape Fear, it's Y2K all over, load up on bottled water, canned food, and laughy taffy's.  Thank you Republicans of the House, outstanding work.

The House Says NO, Its Over

The House didn't approve the $700 Billion Plan.  Our advice?  Get to the breadline early, welcome to the Recession, I mean Depression.

NEW YORK (CNNMoney.com) -- The fate of a controversial $700 billion financial bailout plan was in doubt Monday as a House vote turned against it.

Freddie Krueger - Nightmare on Elm StreetIt doesn't matter at this point who is right or wrong, but if that Bailout Plan doesn't pass, we can all kiss our 401k's, IRA's and personal portfolio's goodbye.  It will be a Nightmare on Wall Street, it's that simple. 

The Masters have talked up GE time and time again, but now someone with clout and influence is saying General Electric (NYSE:GE) is the stock to buy, simply put, Barron's article: It's Time to Buy General Electric