MASTER LIMITED PARTNERSHIPS

Tuesday, September 23, 2008

You know things are really messed up when Barney Frank says something and the markets rally. Dow up 100 points from the low of the day at -160 as Frank says a bill will pass by Friday or the weekend..give or take a day or two.

MLPS bottomed at -7 on the index..now down 6.

4 comments:

Anonymous said...: Compared to his peers in Congress, Frank is looking pretty good. He seems to want to get this plan passed quickly and not let it get hung up in partisan wrangling.

Bruce; 9/23/2008 2:34 PM
Anonymous said...: Frank slips in some partisan zingers from time to time, but in an emergency he seems to have stepped up to the plate for the public good..

Of course he stepped up to the PAC plate as well in calmer times.

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Cox referred to naked shorting of Credit default swaps.

I wonder to what degree this effects the plans to buy out the Banks?

I wonder if CDS's could be declared an insurance product, and therefore not enforceable unless the seller of the swap had an insurable risk?

Perhaps that's why the treasury asked for legal immunity?

HS

I wonder if the; 9/23/2008 2:44 PM
Anonymous said...: I wonder to what degree this effects the plans to buy out the Banks?

should read:

I wonder to what degree this effects the plans to buy out the Bank's toxic debt.?; 9/23/2008 2:45 PM
Anonymous said...: Confidence Plummets With the Market

By Rev Shark
RealMoney.com Contributor
9/23/2008 2:04 PM EDT

The mood out there is about as negative as we have seen it all year. Even the folks who have declared bottoms multiple times are now selling and buying gold. The question is whether things are getting so sour that we are getting some real capitulation.

A lot of folks make the mistake of thinking capitulation only takes place when there is panic and intense volatility. The insidious form of capitulation takes place with a whimper. It is when someone calls their broker and says, "I'm sick of this market and losing money. Sell everything and wire me my funds." That is the real sort of capitulation that helps to produce major turning points.

We aren't there yet, but if this action continues much longer, we are going to be there very quickly. There is no place to hide, and with the politicians yammering about disasters and trillions of dollars, confidence is eroding very fast.

If anyone has ever wondered, this is what a real bear market feels like; 9/23/2008 2:51 PM