Sunday, September 21, 2008

Why the market will crash next week

Voltron says: There is opposition building to the bailout proposal because it is a blatant power grab.  It’s in line with my prediction of the government nationalizing the banks.  Since – despite gyrations – the market ended basically flat last week, I expect the government to engineer a major crash next week before the legislation comes up for a vote to “force” congress’ hand.

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=ae6b6P1L8E_E

1 comment:

Lumo said...

I would bet that they will approve the plan because they're scared like hell and feel that any action is better than no action.