Bruce wrote on October 07, 2008 11:23 PM: Why anyone would not have already switched their money to a bond fund from a stock fund months ago is beyond comprehension. The stock market has already been in a downward trend for over a year. What the heck are you waiting for??????

JH wrote on October 07, 2008 11:45 AM: Get your money out the stock market now. See moneyandmarkets.com
Marty Weiss. He and his father have been studying the markets since the Depression. Leave it in the market. You may lose most of it. Invest in Gold. This is the haven of safety. Can't afford gold, buy silver. Price is good to buy silver now.

Mauna loa wrote on October 07, 2008 11:30 AM: The Prez is talking right now. DOW just went down around 80 points.
"It's going to be Tough times ahead, no dought about it" Here we go Las Vegas, welcome to City center, the new ghost town...mark my words.

DMCVegas wrote on October 07, 2008 10:42 AM: I don't think that this was a planned distraction from the war. But I do agree that it has taken front row to distract everyone.

I don't agree with Cheney on practically anything. However, I do believe that the market will correct itself. The banks themselves will start credit flowing again. The bailout money has probably only stymied that process. It's just their nature. And what I mean by that is their attitude about money versus ours.

To us we're raised on the Benjamin Franklin viewpoint on savings that "A penny saved is a penny earned." Banks and investors however don't take that attitude. To them, "A penny not invested is 3 pennies lost." Never mind that they still have their money and no cash is gone, they can only see lost income on money that they potentially could have earned by loaning it out. Despite what Fannie Mae and others say about having to meet mandates by making quotas to sub-prime borrowers, the banks and investors could only see dollar signs. And it was that greed that fueled them.

Buying up bad debt with bailout money is a bad idea because it will allow the banks to stop lending and spend more time building wealth by reorganizing and consolidating their resources. Instead we could simply have forced them to start lending again. In order to do that, sure, they would have to have offered lower interest rates and been more scrupulous with their lending standards. But they would have restarted things themselves. Just like BofA is now re-writing Countrywide's loans to those who qualify. They resetting ARMs to locked rates, and even lowering interest rates as well. They're taking a loss on interest, but making huge gains by not foreclosing. All without taxpayer money nor government intervention. Investors will be back.

rb wrote on October 07, 2008 06:58 AM: This is all a distraction from the war. The banks are pulling the strings and the doom and gloom scenario to weed out the weak and consolidate power. The same thing happened in the 80's when George H was president and the S&L's all went under. Good job republicans....

2zero wrote on October 07, 2008 06:46 AM: When Cramer says, buy a safe and put 5 years living cash in it; listen.

You should think about two years of food stuffs, three months of water and bullets.

Common Sense wrote on October 07, 2008 05:39 AM: Gee, we thought that when Congress voted itself an extra TRILLION DOLLARS, that would "stabilize the financial markets." Guess not.

Maybe if they vote themselves ANOTHER trillion, that will help.

Mauna loa wrote on October 07, 2008 03:48 AM: Welcome to reality, these next few years are going to bad, no dought about it. Vegas has to be hit hard, real hard. People just don't have it to throw away. Most people were buying homes, and condos like it was the roaring 20's again. We are talking city center bottom floor no view one room 650k. HEllO. Is it just me.
How about next door to the dump called el cortez, where low life drug/gambling addicts/alcoholics wonder around all night, there is a 100 million dollar condos right next door (empty) HELLO, where in the hell are those people going to walk their little toy poodles in the morning. Metro's out looking for seatbelt violators, goodluck with that.
There is a vacant lot on main just a little north of downtown, they were going to build Condo's there. Half of the homeless lay on the streets over there, Welcome to las vegas. They damn near had the sick bas%%%% investing in that. Anyone go down there and see that. Jaysus.