"Jan. 17 (Bloomberg) -- Growing conviction that the U.S. is in a recession sent stocks plunging in their worst three-day decline since 2002. "
"Benchmark indexes are approaching so-called bear markets, or declines of at least 20 percent from highs. The S&P 500 and Dow average have both lost more than 14 percent from their Oct. 9 records, while the Nasdaq composite has tumbled 18 percent from an almost seven-year high on Oct. 31. "
http://tinyurl.com/22krze
Replies
4
SoWal Insider
We're in a recession--believe it. The wheels have fallen off the gravy train and it's heading for the ditch.
These triple-digit drops are whacking my portfolio like a pi?ata
it's looking like 2007 will be dead money....thank goodness for cash on the sidelines & CDs....I think it's going to be a rough ride for a while with some bargains at the end.
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These triple-digit drops are whacking my portfolio like a pi?ata
it's looking like 2007 will be dead money....thank goodness for cash on the sidelines & CDs....I think it's going to be a rough ride for a while with some bargains at the end..
Edited
Beach Fanatic
economy in the dumpster and a mile long UFO spotted over Texas...hope it's bringing more investulators with lots of cash! Just like the pro airport pundits promised..........
Beach FanaticAuthor
http://tinyurl.com/37xmjw
http://tinyurl.com/2s4jux
"...A more worrying consideration is that when a bond insurer is downgraded, all the securities it has guaranteed are, in theory, downgraded as well.
'The destruction of the bond insurers would likely bring write-downs at major banks and financial institutions that would put current write-downs to shame."
"If Ambac and MBIA lose their top ratings, billions of dollars of muni bonds will be downgraded, and the guarantees that have been sold on mortgage-related securities such as collateralized debt obligations, or CDOs, will lose value. ..."
http://tinyurl.com/2s4jux
"...A more worrying consideration is that when a bond insurer is downgraded, all the securities it has guaranteed are, in theory, downgraded as well.
'The destruction of the bond insurers would likely bring write-downs at major banks and financial institutions that would put current write-downs to shame."
"If Ambac and MBIA lose their top ratings, billions of dollars of muni bonds will be downgraded, and the guarantees that have been sold on mortgage-related securities such as collateralized debt obligations, or CDOs, will lose value. ..."
Edited
SoWal Insider
http://tinyurl.com/37xmjw
http://tinyurl.com/2s4jux
"...A more worrying consideration is that when a bond insurer is downgraded, all the securities it has guaranteed are, in theory, downgraded as well.
'The destruction of the bond insurers would likely bring write-downs at major banks and financial institutions that would put current write-downs to shame."
"If Ambac and MBIA lose their top ratings, billions of dollars of muni bonds will be downgraded, and the guarantees that have been sold on mortgage-related securities such as collateralized debt obligations, or CDOs, will lose value. ..."
"The nation's second largest bond insurer Ambac Financial Group lost its AAA rating from Fitch Ratings and was put on watch for a possible downgrade at Standard & Poor's, after Ambac scrapped plans on Friday to issue $1 billion of new equity. "
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