Go, Economy!

[haohmaru]

we're not bailing them out, we're bailing us out

And with that goes the failure of the greatest capitalistic market ever.

[Othello Harrington]

And they (the banks) demanded this deregulation, idiots.

Stop loaning money to people who can't pay it back. If you don't have a stable job or collateral I don't care if you make 300,000 a year, no loan for you if I run that bank.

[burgundy]

I make six figures (off the books, mostly), have a 720 or so credit score, and bought a 400,000 house with 10% down and no income verification 6 months ago. I don't think it's that hard out there for people like you and me. It's hard out there for people with 640 credit scores and a few blemishes here and there. And you know what? It SHOULD be fucking hard to get a $360,000.00 loan.

6 months ago was probably a much more lax climate than now. though i'm basing this on conjecture, not actual loan applications. congrats on the purchase btw.

[kingoffighters]

My friend just got their offer accepted by the seller, a 470k house in South Orange NJ. I don't know how much they are putting down, but I doubt it is 20% considering it is a 1 income household (the wife does make 110k/year or so by my estimate). I am curious to see if they can get a loan with 1 girl and another one on the way. And the real estate tax is the real killer at over $1100/month. Not a TYPO!

[haohmaru]

Looks like the House voted it down and the Dow is down over 600 points.

[Othello Harrington]

I say make them pay for their failure and make sure the suits don't get that parachute from a broke company. If not how will we ever learn our lesson?

[kingoffighters]

I am starving already.

[Gooch]

Shidoshi, if you're still in AAPL you may want to get the hell out. I think its run is done for a while now. The price action has been severely to the downside and you will be going against the trend in a very unfavorable environment.

[Yoshi]

Don't listen to him. Don't sell anything in the near future, unless you're looking for a tax write off.

[Gooch]

Those who try to catch falling knives get left with bloody hands.

AAPL has broken through a support level I thought would hold. It is now at a new 52-week low. It was already in a downtrend from the concerns I mentioned in earlier posts, for reasons that can be considered independent of the bail-out crisis. $100 held today so maybe that will provide support going forward but if you're still holding and assuming you bought around $140, then you did not set a stop loss because you should have been out of this position by now.