Stock market braces itself

[concerned]

news.aol.com/business/story/_a/global-markets-tumble-on-bear-deal/20080317072909990001?ncid=NWS00010000000001

On top of supporting the buyout, the Federal Reserve took the extraordinary step of lowering the rate it charges to loan directly to banks just two days before its scheduled meeting Tuesday. The central bank lowered the discount rate by a quarter point to 3.25 percent.

The stunning implosion of Bear Stearns stirred fear among investors worldwide that other banks had sizable exposure to troubled credit markets. Stocks fell sharply in Asia and Europe and oil prices jumped to a fresh record.

Where is the economy going. I'm sure I will take another hit today on the market. Damn

[thelma]

According to TV news reports, 14,000 employees are affected by the buy out of Bear Stearns for just about pennies on their stock. Last year, their stock was valued at $30/share. J.C. Morgan just bought out Bear Stearns for $2/share!!!!! What is going to happen to all the 14,000 employees?

I'm so glad I have a fixed rate mortgage and don't need credit at this stage in my life. I learned a long time ago, if I can't pay cash for something - I can't afford it.

[concerned]

Hopefully they have enough saved up for the long run. My feelings on credit are the same. Stock market openned up and at 10:22 AM I am down $ 85.00.

[frankcor]

The Dow closed up $21 today. Concerned, you probably made most of your money back by now. Unless you're in your 60s and not very well diversified, you shouldn't be watching the stock market anyways. It's times like these that panic people and cause them to lose big time.

Remember, buy when the market is down, sell when the market is up. Think of it the way a woman thinks about buying shoes. Stocks are on sale now.

Poor Joseph Lewis, ~10% owner of Bear Stearns. He's lost $800 million in his investment.