Wall Street is panicking right now

[solarbird]

All markets crashing - yes, this is a literal, real crash - Dow, NASDAQ, S&P 500. Vote in progress, but it looks like it's losing. It's being held open as the leadership try to change votes, but it's not working.

eta: Dow down 660+, bouncing, crazy 100-point-plus swings... voting apparently continues to be held open as the tallies are still changing long after the 5-minute voting period... they've strongarmed two people over from "Nay" to "Yea" in the last couple of minutes... eta2: Dow down now only 500-ish points... eta3: Only 400 points... gotd dammit you can make a lot of money here if you're a particularly quick day-trader...

Comments

[peakoilchaplain.livejournal.com]

No chance that even a fast day-trader among us mere mortals (i.e., those without inside connections to brokers) could get the trades executed quickly enough in this chaos to avoid the high probability of getting squashed ...

It is fascinating to watch. No longer is it a slow-motion train wreck - this train wreck is happening at full speed! I wonder what will be next?

[elfs.livejournal.com]

The vote collapsed. This will be... entertaining.

[peakoilchaplain.livejournal.com]

How's this for misdirection? CNN right now flipped back to the house floor and is all excited that the bill on the floor appears to be passing. Apparently they have missed that it is HR 7175, not on the bailout bill, which has already failed.

[elfs.livejournal.com]

Yeah, it's hard to vote against ordering the mint to "Issue coins commemorating fallen soldiers." I heard that and laughed.

[solarbird]

By which you of course mean vicious. Indeed. Hopefully they can hold it together well enough to do what they should've been doing already - passing measures that'll actually address the actual issues involved instead of just building a money funnel.