A Blank Check To Paulson

Posted: July 15, 2008 at 2:16 pm by Lisa

In essence, Paulson and Bernanke have asked for a blank check to use as they see fit for Fannie and Freddie. I’m speechless, for now. And this garbage about an "Emergency Order" to curb short selling in Fannie and Freddie, to make short sellers meet conditions (whatever that may be) is the biggest load of **** I’ve ever heard. Apparently, everything happening in the financial stocks is because of short sellers, not a fundamental crisis. More details on this later. "Wow", is about all I can tell you right now. I wish I could be more analytical and eloquent at this point, but I’m just as susceptible to being blown over as the next guy.

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11 Responses to “A Blank Check To Paulson”

JohnK on July 15th, 2008 2:23 pm

The NDX looks strong today. I supposed the earnings from INTC after bell has something to do with that. We’ll soon see if that will be a catalyst to the upside or another nail in the coffin. Either way I don’t think INTC is a very good proxy for tech in general but that will not stop the pumpers.
ecklebob on July 15th, 2008 2:50 pm

I learned something from buying puts on INTC last time they reported. It doesn’t matter how depressed the chip market prices are. The only thing that matters is that INTC can easily make the very low expectations as far as earnings go. I got killed.
JohnK on July 15th, 2008 3:17 pm

You and me both. I got dinged as well that last go around. A very small position but a loss nonetheless. Anyway the drama continues but what they do not understand is that they cannot fix this. It needs time and the process is going to be painful. If Congress provides the Treasury an blank check to purchase equity in a “private” company than I’ll completely lose faith in the American political system.
Jim on July 15th, 2008 3:17 pm

Only the elite insiders will be allowed to short stocks, everyone else must be long the market or long Treasuries. That the new rule.
bert on July 15th, 2008 3:24 pm

welcome, to the Dark Pool
doc1 on July 15th, 2008 3:33 pm

Wow, anyone have any idea why SKFs are taking off like a rocket here the last 30 minutes? I’ve been buying AND selling them all day making a bundle and now this? Thank goodness I bought a grundle of them at 188 an hour ago.
doc1 on July 15th, 2008 3:34 pm

BTW. is owning SKFs shorting the market? I have scrubs and am NOT naked. So is that legal?
ecklebob on July 15th, 2008 3:37 pm

doc1, You’re a dog!
Lisa on July 15th, 2008 3:42 pm

Yes doc1 you are shorting! But, since you are wearing scrubs you can bypass the SEC this time. LOL
seeblog on July 15th, 2008 3:58 pm

SKF made some moolah for me too , but i guess it will consolidate tomorrow .
It might rear again after options expiration Friday …. next week quarterly financial reports come out ….
doc1 on July 15th, 2008 7:26 pm

Yeah, I’m flat at close. Woo! Nice day for us, Seeblog. Thanks for the heads up on the consolidation tip. I’ll watch it tomorrow. DUG does look temporarily interesting. Hmmm…