Opening Bell: 9.30.08

By

backfromthedead.jpgFutures indicating rebound after historic sell-off (RTT News)
Oh, see. We’re still here. The world hasn’t gone anywhere. In fact the stock market is looking up this morning. A few hundred points. Sure it’s just a sliver of what we lost yesterday. But did any banks fail last night? (Don’t answer). Seriously though, Wall Street better cut out this “buying” stuff if it wants a deal to happen (just kidding!). Of course, others will say that the market is only up on high expectations of a deal. See: Next story.
Senate May Try to Revive Bank-Rescue Bill by Tomorrow (Bloomberg)
Ah, the swift discipline of the markets. Despite the “death” of the bailout bill, the Senate plans to vote on something tomorrow, and pundits increasingly expect a deal by the end of the week. Basically, conviction is one thing, but it’s no match for diminished 401(k)s.
Market Drop Pressures Hedge Fund Managers (WSJ)
As part of that ideological gun being held to dissenting Republicans was the threat of end-of-quarter hedge fund redemptions, triggering a “cascade” of selling. Well, we’re getting to the end of the quarter here, so we’ll see if there’s anything to it. Though we can confirm to you that some dude on CNBC just said he didn’t think it was a real big deal.
2008 Presidential Election (Intrade)
Besides stocks, the other big loser in the markets was McCain. He’s not at 37 cents on the dollar. And just look at the state-by-state map. He’s basically losing everything that might be considered a tossup, from Florida to Ohio. We’re talking Reagan-Monday here. Ok, not that bad. Prediction: This will tight up. Were we betting, we’d be more bullish on McCain’s chances.


Sovereign Bancorp to replace CEO
Well after getting absolutely demolished yesterday in the market, Pennsylvania-based Sovereign Bancorp is likely to replace its CEO. The stock is trading at $2.33… It might be too late. BTW: We’re wondering how the stock collapse of National City and Fifth Third Bank (both based in Ohio) will affect John McCain’s chances of carrying the state. We have no idea. Here’s how its playing in the Cleveland Plain Dealer.
How Should We Allocate CO2 Permits? (Freakonomics)
You know: For something a little lighter. We haven’t read it yet, ourselves, so take it for what it’s worth.
Nasdaq’s Plunge: Large-Cap Tech Take A Mammoth Hit (TechTraderDaily)
Of course, it wasn’t just banks. Yesterday’s real story may have been about the day investors decided that the cancer had spread everywhere. Large-cap took really got nailed. Just check out Apple, Google and the like. Zouch.

    Sign up for the Dealbreaker newsletter

    Subscribe to our free daily email and get breaking news, financial headlines, commentary, and analysis from Dealbreaker.

    — Advertisement —

    Comments (67)

    Older Comments
    1. 1
      Posted by Carbonara | September 30, 2008 at 7:49 AM

      We’re still “hear”?

    2. 2
      Posted by guest | September 30, 2008 at 7:51 AM

      http://tfpoi.com/2008/09/30/new-rule-if-the-american-financial-system-has-bless-you-an-old-fart-with-a-hot-wife-with-a-tongue-piercing-and-you-vote-to-screw-that-system-up-you-must-give-that-wife-to-college-students-namely/

    3. 3
      Posted by bittergreen | September 30, 2008 at 7:56 AM

      Because if there is anything you can expect from the Senate, it’s that the leadership can really crack down the party line and whip party members into shape.

    4. 4
      Posted by guest | September 30, 2008 at 8:06 AM

      “cought out”? Wow. Just wow.

    5. 5
      Posted by guest | September 30, 2008 at 8:07 AM

      McCain sold to you

    6. 6
      Posted by guest | September 30, 2008 at 8:07 AM

      “cought out”? Wow. Just wow.

    7. 7
      Posted by guest | September 30, 2008 at 8:09 AM

      I wish I had enough capital to get into overnight lending.
      http://www.bloomberg.com/apps/news?pid=20601087&sid=alszNo3N0CHo&refer=home
      http://www.bloomberg.com/apps/cbuilder?ticker1=.TEDSP%3AIND
      Goddamn the paper market is going to suck today.

    8. 8
      Posted by guest | September 30, 2008 at 8:16 AM

      Do you mean “now at” instead of “not at”? Is there a prize offered for typos today?
      Yours, a pedant

    9. 9
      Posted by guest | September 30, 2008 at 8:16 AM

      They’re nihilists, Donny.

    10. 10
      Posted by guest | September 30, 2008 at 8:32 AM

      Is Bess outsourcing to somalia?

    11. 11
      Posted by guest | September 30, 2008 at 8:51 AM

      “You know: For something a little liter”
      a liter? 1000 mls?

    12. 12
      Posted by guest | September 30, 2008 at 9:16 AM

      that was a mess

    13. 13
      Posted by Bristol Airport Hotels | April 19, 2012 at 8:47 AM

      jFtRrR Thanks a lot for the article post.Really thank you! Great.

    14. 14
      Posted by map master amino pattern | April 20, 2012 at 4:14 PM

      This is one awesome article.Really looking forward to read more. Keep writing.

    15. 15
      Posted by Specialty psychology programs | April 20, 2012 at 5:46 PM

      I cannot thank you enough for the blog. Awesome.

    16. 16
      Posted by chaga | April 24, 2012 at 3:12 PM

      Really enjoyed this blog post.Really looking forward to read more. Awesome.

    17. 17
      Posted by cobra amp irons | April 24, 2012 at 7:40 PM

      I really like and appreciate your blog article.Thanks Again. Will read on…

    18. 18
      Posted by Hip Hop Beats | April 25, 2012 at 2:48 AM

      Im grateful for the blog.Really thank you! Really Great.

    19. 19
      Posted by Where to download albums free | April 25, 2012 at 5:03 AM

      Very neat blog.Much thanks again. Awesome.

    20. 20
      Posted by best acoustic guitars reviews | April 25, 2012 at 6:13 AM

      I truly appreciate this article.Much thanks again. Will read on…

    21. 21
      Posted by trading journal spreadsheets | April 26, 2012 at 1:25 PM

      Thanks for the article post.Thanks Again. Fantastic.

    22. 22
      Posted by natural remedies for acne | April 26, 2012 at 3:51 PM

      I loved your article post.Much thanks again. Cool.

    23. 23
      Posted by Las Vegas Auto Title Loans | April 27, 2012 at 1:19 AM

      I really enjoy the blog post.Really looking forward to read more. Really Cool.

    24. 24
      Posted by faux fur throw | April 27, 2012 at 10:40 AM

      I truly appreciate this blog post.Much thanks again. Will read on…

    25. 25
      Posted by cheap zynga chips | April 27, 2012 at 1:41 PM

      Say, you got a nice post. Will read on…

    26. 26
      Posted by bonus con deposito | April 27, 2012 at 8:01 PM

      I truly appreciate this blog.Really looking forward to read more. Keep writing.

    27. 27
      Posted by E-Books | April 28, 2012 at 2:22 AM

      Great article post.Thanks Again. Awesome.

    28. 28
      Posted by NewsMiner | April 28, 2012 at 3:38 PM

      Im grateful for the blog article. Want more.

    29. 29
      Posted by quickturn pcb | April 28, 2012 at 8:21 PM

      Really appreciate you sharing this article post.Much thanks again. Really Great.

    30. 30
      Posted by Larissa Hibbetts | April 29, 2012 at 1:40 AM

      A big thank you for your blog article.Thanks Again.

    31. 31
      Posted by forex trading tips | April 30, 2012 at 8:07 AM

      Very informative blog post.Much thanks again.

    32. 32
      Posted by portfolio / work portfolio | April 30, 2012 at 4:33 PM

      I loved your article. Keep writing.

    33. 33
      Posted by vacuum cleaner reviews | May 1, 2012 at 8:01 AM

      I really like and appreciate your article. Really Great.

    34. 34
      Posted by pet adoption | May 2, 2012 at 12:10 AM

      Enjoyed every bit of your article. Fantastic.

    35. 35
      Posted by Phlebotomy Training programs | May 2, 2012 at 2:03 AM

      wow, awesome blog post.Much thanks again. Great.

    36. 36
      Posted by twitter followers | May 2, 2012 at 2:37 AM

      This is one awesome blog.Really thank you! Great.

    37. 37
      Posted by free boody call | May 2, 2012 at 4:09 AM

      Thanks a lot for the article post.Really thank you! Really Great.

    38. 38
      Posted by Joe Melendez | May 2, 2012 at 5:42 PM

      Enjoyed every bit of your post.Much thanks again. Keep writing.

    39. 39
      Posted by Sandals hotels | May 5, 2012 at 2:56 AM

      Very informative article.Thanks Again.

    40. 40
      Posted by Prototype 2 | May 5, 2012 at 4:55 AM

      I think this is a real great blog post.Really looking forward to read more. Really Great.

    41. 41
      Posted by London Piano Institute | May 7, 2012 at 5:46 AM

      Appreciate you sharing, great blog article.Really looking forward to read more. Awesome.

    42. 42
      Posted by Limo services in Los Angeles | May 7, 2012 at 11:42 AM

      Very good blog post.Really thank you! Really Cool.

    43. 43
      Posted by virus removal | May 7, 2012 at 2:42 PM

      Great blog.Really looking forward to read more. Fantastic.

    44. 44
      Posted by home remedies for acne overnight | May 7, 2012 at 5:55 PM

      Thanks for sharing, this is a fantastic article.Thanks Again. Much obliged.

    45. 45
      Posted by Send Free International SMS FREE | May 7, 2012 at 7:25 PM

      I really enjoy the blog article.Really looking forward to read more. Really Cool.

    46. 46
      Posted by canvas prints dropship | May 8, 2012 at 5:24 AM

      Thanks for sharing, this is a fantastic blog. Keep writing.

    47. 47
      Posted by webdesign Brisbane | May 8, 2012 at 6:54 AM

      Say, you got a nice blog.Much thanks again. Awesome.

    48. 48
      Posted by articles for your blog | May 8, 2012 at 9:58 AM

      I loved your post.Really thank you! Will read on…

    49. 49
      Posted by Promotional Gifts | May 8, 2012 at 5:29 PM

      Wow, great article post.Much thanks again. Want more.

    50. 50
      Posted by alcohol abuse | May 8, 2012 at 9:13 PM

      Major thankies for the article. Really Cool.

    51. 51
      Posted by vicodin addiction | May 8, 2012 at 10:46 PM

      Thanks again for the blog article.Much thanks again. Great.

    52. 52
      Posted by hid bulbs | May 8, 2012 at 11:37 PM

      I really like and appreciate your blog.Really looking forward to read more. Will read on…

    53. 53
      Posted by Harley Parts | May 9, 2012 at 12:42 AM

      Looking forward to reading more. Great blog article.Really looking forward to read more. Fantastic.

    54. 54
      Posted by shroom | May 9, 2012 at 2:42 AM

      Thanks for sharing, this is a fantastic blog post.

    55. 55
      Posted by direct marketing | May 9, 2012 at 4:18 AM

      A round of applause for your post.Really thank you! Cool.

    56. 56
      Posted by money making websites | May 9, 2012 at 5:52 AM

      Muchos Gracias for your blog.Much thanks again. Keep writing.

    57. 57
      Posted by payday advance bad credit | May 9, 2012 at 8:57 AM

      Really informative article. Keep writing.

    58. 58
      Posted by battery chargers | May 9, 2012 at 10:32 AM

      I value the post.Really thank you! Want more.

    59. 59
      Posted by Drapes And Curtains | May 9, 2012 at 10:48 AM

      Thanks a lot for the blog article.Thanks Again. Much obliged.

    60. 60
      Posted by ping | May 9, 2012 at 5:44 PM

      Thanks so much for the blog post.Really looking forward to read more. Keep writing.

    61. 61
      Posted by psx | May 9, 2012 at 7:19 PM

      I value the blog post.Thanks Again. Fantastic.

    62. 62
      Posted by how to spray paint a car | May 9, 2012 at 7:21 PM

      Really informative blog article.Really looking forward to read more. Fantastic.

    63. 63
      Posted by bat removal do it yourself | May 9, 2012 at 8:57 PM

      Im thankful for the blog.Really thank you! Keep writing.

    64. 64
      Posted by sega roms | May 10, 2012 at 3:30 AM

      I am so grateful for your article post.Thanks Again. Really Cool.

    65. 65
      Posted by Yoga Classes Surrey, BC | May 10, 2012 at 5:04 AM

      I loved your blog.Much thanks again. Great.

    66. 66
      Posted by underfloor heating tiles | May 10, 2012 at 5:20 AM

      Thank you ever so for you blog post.Really looking forward to read more. Awesome.

    67. 67
      Posted by join salehoo | May 10, 2012 at 7:35 AM

      Very good blog post.Thanks Again. Fantastic.

    Older Comments

    Leave a comment

    You can log in with your account or comment as a guest below.

       or