For those of you who've notice the DOW did a u-turn and has gained 200 points,

[Subdivisions]

here is the reason why: "Some person" came out after the interest rate announcement and said the Fed was leaning towards an AIG bailout:

Headline: Fed Said to Reverse Stance, Consider a Loan Package for AIG
Link: http://www.bloomberg.com/apps/news?pid=20601087&sid=aModqMIEqaGY&refer=home

[mmonk]

1. Yes, that is correct.

It happened almost instaneous.

[radfringe]

2. lol...and just this morning

McCain Says U.S. Should Let AIG Fail to Prevent `Moral Hazard'
Source: Bloomberg

Sept. 16 (Bloomberg) -- Republican presidential nominee John McCain said the U.S. government should let American International Group Inc. fail to prevent the financial burden from being placed on taxpayers.
``I think you have to, but I also know that there are great efforts being made to try to raise sufficient capital to keep AIG in business,'' McCain said in an interview with CNBC from Miami.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a3QsD0.948uc&refer=home

-------

[mmonk]

5. McCain is always concerned about the taxpayer

except as it pertains to Iraq.

[mrreowwr_kittty]

7. McCain, you dumbass, that's what regulations are for.

You don't leave something as important as our banking system in the hands of its owners to regulate themselves. Deregulation IS a moral hazard.

[lapfog_1]

3. However, it's still right at the "disaster floor"

of 11,000. It had to claw it's way back to that after the selloff yesterday.

[ColbertWatcher]

6. Yup. That whole big negative yesterday has yet to be overcome with a tiny +. n/t

[supernova]

4. Because AIG

has its fingers in many pies throughout all the world's financial markets. We not only have to prop up Wall St, we have to prop up all the other markets too. :crazy:

[nadinbrzezinski]

8. 'xactly... and having one take many down, is enough for the moment

AIG on top of Lehman...

But we are still at the floor, assuming it can keep this

[supernova]

14. There's probably a couple of more

Wall St firms that we haven't heard of yet.

[nadinbrzezinski]

15. Alas I fear you are right

hell Morgan Stanley is giving money to AIG potentially, but they aren't doing that hot either

[DJ13]

9. Nope, no manipulations in OUR stock markets

Nothing to see here, keep moving........

[Subdivisions]

12. 'The 'person' gave no timetable for reaching an agreement

or estimate on how much money New York-based AIG would need. New York Fed spokesman Andrew Williams declined to comment.'

The "person"?

PERSON?

[SmokingJacket]

10. It pretty much always does that.

It kinda drives me nuts.

One day doesn't make or break the stock market.

[riverdeep]

11. Some analyst described all this as socialism for the rich.

The transfer of wealth from the middle class to the upper class is so blatantly obvious here. Why aren't people telling them to use their bootstraps and not complain like the rest of us are told? Where are the moral screeds that scream they don't want their tax dollars to be used to bail out a family that now has to live in their car? They are eerily silent.

[fascisthunter]

13. People May as Well Bet on Horse Race Run by a Mafia

that's what our stock market essentially is.... a RACKET!

[stranger81]

16. This is just disgusting. . . . more socialism for the rich, while everyone else

can just F-off and die.

[gratuitous]

17. And now, toward the end of the trading day . . .

The Dow is up just over 100 points for the day.

That was their cunning plan?