Cause of the massive selling off in the last hour

[blueclown]

http://www.bloomberg.com/apps/quote?ticker=.TEDSP%3AIND

Ted Spread now 4.23. It rose 8% today. It looks like the Fed announcing that they were buying commercial paper didn't help at all.

[still_one]

1. They are going to take over some of the banks I suspect, but I think this

will continue to unwind for a while

[BootinUp]

2. It did help companies that needed financing but

its a slow process.

As far as the banks I don't think money capital etc is the answer because no one really knows how much is needed or which banks need it the most.

[AndyA]

3. Holy shit.

When you have a bunch of crooks handling the money, this is what you get. None of them trust each other. And there's no reason for them to!

[earth mom]

9. What blows my mind is that SO many people bought into the stock market scam.

Hell, I've known since I was a kid that the stock market was extremely risky! My parents were children of the great depression and did NOT trust the stock market-at all.

All the stock market reminds me of is gambling where all the players are wearing their shades, watching each others moves and trying to out game each other.

I've long thought they were all CROOKS on Wall St. And now those bastards are taking us all down with them! :grr:

[ixion]

4. someday very soon here the Fed is going to realize that just because they pretend to have money

doesn't mean they do.

Every time they offer another "bailout" we take another step closer to an ever deepening abyss.

[drm604]

5. Can you explain the TED spread?

For those of us who are less knowledgeable of such things.

Do you think the end of the short selling ban contributed to the sell off?

[BelgianMadCow]

7. It's a measure of interbank confidence

http://en.wikipedia.org/wiki/TED_spread

[still_one]

8. It is a measure of the perceived credit risk in the economy

The TED spread is the difference between the interest rates on inter-bank loans and short-term U.S. government debt ("T-bills").

http://en.wikipedia.org/wiki/TED_spread

[SoCalDem]

6. The "Fed" has lost all credibility. Who would believe anything "they" say now?

"They" claim to have been as surprised by this, as Condi was about the "planes flying into tall buildings"...even though dummies like ME , could see this coming ..years ago...