Look for an Enormous Market Crash

http://www.thestreet.com/story/10407955/1/jpmorgan-chase-to-buy-bear-stearns.html

Last Thursday, Bears was worth $50, and now it’s worth $2?

Uh-Oh.

That means that J.P.M.C./the Fed took a look inside Bears when they offered to bail-out Bears on Friday, and it’s bad. And if one of the largest investment banks in the U.S. is bad, then there may be more banks that are in serious financial trouble. Even if there aren’t, the market will probably react as if other banks may be the next Bears. Trading between banks will slow to zero. The Fed doesn’t meet until Tuesday, where rates will be cut. The rate they cut is on the bank to bank loans, not bank to consumer rates. Those rates are up to the lender/bank.

Tomorrow could be Black Monday, and the markets will probably tumble.

Any one on the over/under of the close of the Dow? I say -500 points unless the Fed cuts rates tomorrow.

I’m the web director for a nationally syndicated morning show. Before this, I worked in politics for many years as a producer at a news talk station, WXNT, and then as the Executive Director of the Libertarian Party of Indiana. I then worked in marketing for the Englehart Group and the Advocates for Self-Government.

Despite my position in mass media, I love podcasting and all aspects of new media. I host the We Are Libertarians podcast. I'm a news junkie, a Christian, a libertarian and a voracious reader. I love food, comedy, tech, IndyCar, psychology, writing and collecting and organizing information. I also have two cats, Mittens and Cornelius.