Thursday, August 9, 2007

Stocks Plunge at Open As Subprime Jitters Rattle Markets

Stocks opened sharply lower after the Federal Reserve and European Central Bank added liquidity to their banking systems amid fallout over subprime problems spreading to European hedge funds.
"The volatility is amazing," said Stephen Porpora, managing floor broker at William O'Neil. "Now we're looking to get back and test those lows."
"The investors are like deer in the headlights," said David Dietz, chief investment strategist at Point View Financial Services. "Those initial hopes going back a couple of months that the subprime crisis could be contained in terms of asset class and geographically are completely off the table. As a result, investors are left scratching their heads."
I wish I understood what the hell happened.
Asset class? Subprime crisis?
Is Subprime, Optimus Prime's little brother?
The dude in the picture looks, "concerned", I'm sure if we understood any of this crap we'd look that way too?

1 comment:

=HPSF=Jarhead said...

"Subprime, Optimus Prime's little brother?"

Nice...I wonder if that is his drunk unappreciated brother. Like Steve Buscemi in the Wedding Singer.