Markets soaring!! Geithner effect.

[DCBob]

Up over 500 points. Will see if it holds.

Edit: It ended up +494 for the day.

[uponit7771]

1. 1 billion shares of C traded today!! There has been a lot of bleeding, news was needed

....who is the guy?

What's his positives?

Thx

[Alter Ego]

3. HIS NAME HAS BEEN MENTIONED IN THE SAME SENTENCE

AS HANK PAULSON. THEREFORE HE IS A CORPORATE FASCIST WHORE SELLOUT FATHER-RAPER MOTHER-STABBER DOG-KILLER ARGH.

[DCBob]

4. He has good credibility. Good background. No nonsense guy.

Hard working, problem solver type. Just what we need now.

[SlowDownFast]

9. Man, are you ever naive.

This completes the coup d'tat.

Welcome to The New World Order. Your new master is the Federal Reserve Bank (a private entity at that). Monster power consolidation.

For those unfamiliar, do a little googling on Geithner. Hint: His bestest buddies are Hanky Panky Paulson and Bendover Bernanke. The 3 stooges of Treasury looting. He's part of the problem, not the solution.

"Meet the New Boss, same as the Old Boss".

I'm very disappointed in Obama, to say the least. I've been luke-warm to cool about some of his appointments thus far, but this takes the cake.

His pick for Treasury Secretary is (was) perhaps the single most important position on his entire team, considering the current crisis - almost to the point that the new Treasury Secretary could perhaps wield more power than the president and believe me, Geithner has already (as president of the NY Federal Reserve) and will continue to.

Epic fail.

I really hope I'm wrong, but I'm not.

Fuck.

Time to go buy another gun and some more seeds.

[DCBob]

11. Man are you ever pessimistic.

Go back to your cave.

[SlowDownFast]

17. That's all you got?

Ad hominem attack?

I'm not the one who's head is in the sand, buddy.

I've been studying and have known about this looming crisis for more than a year and a half - shouting from rooftops while folks like you were pooh-poohing a recession, calling me "pessimistic", little own contemplating a full fledged Depression (which is now finally being talked about FREQUENTLY in the MSM). I was listening to Noriel Roubini before they ever gave him the time of day on Bloomberg or CNBC. Do a search of my posts here.

While everyone else has had their 401k's turned into 201k's this last year, I got out of mine AT THE TOP in December and I've been MAKING money all year using options betting against financial institutions. I made 400% profit when Bear Stearns crumbled, because I DID MY HOMEWORK and knew they were going to be the first to fail.

I bet you were one of those cheerleading (even if silently) the Bailout when it was first announced. I'd put money on it.

:eyes:

Even with a competent Treasury Secretary, I'd have my doubts about Obama's effectiveness against this seismic global crisis.

But with the foxes now guarding the henhouse AGAIN?

[DCBob]

18. Sure genius. You were right everyone else was wrong.

I guess you wanted to be Secretary of Treasury. Did you apply?

Sure, I have my doubts anyone is capable of fixing this mess but I trust Obama more than some anonymous poster named "utopiansecretagent".

[Median Democrat]

12. Where's The Tin Foil?

It is interesting that you offer no suggestion as to who Obama should have appointed.

[SlowDownFast]

22. Any of these would have been better:

Volker, Paul Krugman, Noriel Roubini, Paul O'Neil, Ron Paul, David Walker (former US Comptroller General)

What you should be lamenting is that Geithner is the most powerful Federal Bank chairman. This is actually worse than the CEO of Goldman-Sachs being in this position, since you now have TWO Fed guys running the show. Do you suppose this banker of all bankers will be advising Obama to cut spending or increase borrowing?

[camera obscura]

24. Ron Paul?? REALLY??

oy...

[SlowDownFast]

25. Not my first pick, but better than Geithner.

Bipartisan appeal and real change and solutions - the man is fiscally pragmatic.

How about this, just appoint SOMEONE that is NOT a bankster criminal?

Just so we remember, Geithner was the architect of the BSC takeunder.

Somehow I don't think Bush-style cronyism coupled with Clinton leftovers is the recipe for the "change" people are droning on about.

Geithner was closely involved in the design and execution of the Bush administration's $700bn banking bailout, which has proven less than popular with Congress and could become an issue during his confirmation hearing.

The possible pitfalls of his ties to star-crossed financial titans can be summed up by the headline on a recent Portfolio magazine profile of Geithner: The Man Who Saved (or Got Suckered By) Wall Street.

Geithner IS responsible for the current crisis we are in.

Looks like the Wall Street Mafia found their yes man...

[Sebass1271]

14. remember, they WILL REPORT TO THE BOSS

.. NOT THE OTHER WAY AROUND. Obama is smart and can think for himself unlike Bush, he let his employees think for HIM. Obama will set the Agenda. They will bring up ideas and solutions but ulimately, it will be President Elect Obama's decisions.

[Zynx]

15. Federal Reserve appointments are from the government. It gives its profits at the end of

the year to the U.S. Treasury. You are ill-informed. It is a classic public-private partnership and an important one at that.

[gmudem]

19. New World Order? LOL

Stopped reading after that.

[janx]

20. What kind of seeds?

:rofl:

[anonymous171]

21. You're the naive one. Everyone knows that the only politician who isn't NWO is Ron Paul.

[onehandle]

2. Bush is walking to the podium!!

Down 800 points.

(kidding)

[DCBob]

8. Up 480!! Over 8000 again.

Hope it holds.

[SlowDownFast]

27. You've proved my point posted above

if you actually think 8000 could possibly hold.

We're not even NEAR bottom, yet.

But hey, I'm just a "pessimist".

:rofl:

[phantom power]

5. I expect that soon "the market" will realize he doesn't take office for 60 days...

and meanwhile, nothing about the currently-imploding economy has changed.

Maybe we can call that the "oh wait, we're still fucked" effect.

[DCBob]

6. Probably.

I wish Bush would resign and let Obama take over.

[DemzRock]

7. Doesn't work that way unfortunately.

[question everything]

13. The market is soaring not because of who he is but because a decision has been made

The market does not like uncertainty.

[backscatter712]

10. Oops, never mind...

I guess I should try reading the news sometime.

I haven't heard of Geithner before, but he sounds like a decent man for the job.

[This One]

16. I now pronounce the "Obama Recession" to be over

[Jennicut]

23. Can we pronounce this the Obama recovery yet?

[thenam]

26. Ah, I see that the correct member of the elite got tapped, then.

All worry is over!

[Lerrad]

28. Big deal, it has lost 35% in the past month, but my 401K has lost 50%.

I'm screwed there went my retirement, right down the drain.

I guess I need to call Joe the Plumber.

[amandabeech]

29. Geithner was one of the NY Fed guys who negotiated the JPMorgan purchase of Bear Stearns.

Some people think that the Federal Reserve team got taken on that one.

Not a promising circumstance, as far as I'm concerned.