momo think market wont lau sai too much, now cant short-sell mah...hee hee

Then US mkt may again approve bail out plan & cut interest rate this week ....so mkt up again...amazing recovery part 3???

So those brave heart who play trading may gain at this violatile mkt....

Juz momo view only 

danielb      ( Date: 30-Sep-2008 11:44) Posted: And what happened after Amazing Recovery 1 ? In the next 2 trading days the market gave back everything. So guess what is next if there indeed is an Amazing Recovery 2 .... momokojo      ( Date: 30-Sep-2008 11:33) Posted: HA HA S'pore arket is recovering  from -ve 100 point to -ve 53 points.... Will there be another amazing recovery Part IIat the end of the day?

Don't worry lah. Spore banks are as solid as rocks man! I'm sure those in the 40-60 yrs old had seen the worst in their young days. We were all running about without pants in our kampong.

Ralax man! Time to load up for next rally. "Danger & Opportunity" goes hand in hand.

Let's be more pragmatic.

The banks in Singapore have survived Asian Financial Crisis, black Monday etc.

Stocks may collapse yes, but it's going to take much more to cause the S'pore banks to collapse. Unless war breaks out, SARs strikes, people default on all their loans, businesses close shop and fail to pay back bank loans, then maybe it might happen.

Otherwise, it's too remote a possibility.

 The Dow industrials suffered a record points drop while the benchmark S&P
500 had its worst day since the October 1987 crash, after the House of
Representatives rejected the $700 billion plan to soak up bad debt.

Now cannot do SHORT, can only make money with PUT liao.....

2420 broken last Fri (2411 close).

Throw in the wishy-washy way U.S is deliberating on the 700b bailout (now in instalments), not too surprised to see red.

The Bush administration gets broad power to use taxpayer money to rescue cash-strapped financial firms in the legislation, which is designed to unfreeze choked credit and avert a broader economic meltdown.

Congress won a hand in the program too, after 10 days of high-intensity haggling among lawmakers in both parties and Treasury Secretary Henry Paulson, who sought the unprecedented amount of money with little supervision.

Instead, the bill lets Congress block half the money and force the president to jump through some hoops before using it all. The government could get at $250 billion immediately, $100 billion more if the president certified it was necessary, and the last $350 billion with a separate certification _ and subject to a congressional resolution of disapproval.

Still, the resolution could be vetoed by the president, meaning it would take extra-large congressional majorities to stop it.

Lawmakers demanded curbs on the pay packages of top executives whose firms get the help, and assurances that taxpayers would ultimately be reimbursed by the companies for any losses. But the government would have broad discretion to decide how to implement both, something Paulson insisted was vital to make the rescue effective.

The legislation also requires that the government take ownership stakes in companies that receive federal infusions, so it could share a piece of potential future profits.

Banks, credit unions, securities brokers and dealers, and insurance companies, among others, could get the help as long as they had "significant operations" in the United States. Originally designed to help companies get rotten mortgage-related investments off their balance sheets, the legislation allows the government to buy up any kind of asset top economic officials think is necessary to promote market stability.

The final 110-page bill was released Sunday evening after a final weekend of intense negotiating, and Republicans and Democrats huddled for hours in private meetings Sunday night to learn its details and voice their concerns. Many said they left uncertain of how they would vote.

Rep. Joe Barton, R-Texas, an opponent, estimated that half of the House's 199 Republicans are "truly undecided."

Democratic Rep. Elijah Cummings, D-Md., said he was inclined to oppose the bill. But he added: "A lot of people are going to hold their nose and vote for it, because they've been put in a bad position and they don't have any other option."

Leaders in both parties were scrambling to put the most positive face on the deeply unpopular plan. House Speaker Nancy Pelosi, D-Calif. said it wasn't a bailout but a "buy-in" for taxpayers to rescue the economy.

Still, lawmakers in both parties who are facing re-election were nervous about embracing such a costly plan proposed by a deeply unpopular president that would benefit perhaps the most publicly detested of all: companies that got rich off bad bets.

teeth53      ( Date: 26-Sep-2008 22:20) Posted: All subjects to changes w/o notices as in it on going negotiation. Details on the plans (plan no: 1) The principles the Democrats said had been agreed upon call for Congress to make $250 billion available immediately with $100 billion available, if needed, without requiring additional congressional approval, said two senior Democratic aides familiar with the negotiations. The second half of $350 billion would then become available by a special approval of Congress. On executive compensation, the draft would require limits on compensation for executives of any company participating in the bailout. These caps would apply for as long as the company is in the program. This would include some language to limit excess "golden parachutes." Treasury will also get an equity stake in the companies being helped by the bailout, though what type remains to be worked out. Still to be worked out is whether to allow bankruptcy judges to modify mortgage terms, a provision backed by many Democrats and community activists but opposed by Republicans and the banking industry. Details on the plans (plan nos: 2 and next...?) The principles the Democrats said had been agreed upon call for Congress to make $250 billion available immediately with $100 billion available, if needed, without requiring additional congressional approval, said two senior Democratic aides familiar with the negotiations. The second half of $350 billion would then become available by a special approval of Congress. On executive compensation, the draft would require limits on compensation for executives of any company participating in the bailout. These caps would apply for as long as the company is in the program. This would include some language to limit excess "golden parachutes." Treasury would also get an equity stake in the companies being helped by the bailout, though what type remains to be worked out. But House Republicans are not on board, according to Minority Leader Rep. John Boehner, R-Ohio. "House Republicans have not agreed to any plan at this point," Boehner said Thursday. Instead, they issued a statement of economic rescue principles that calls for Wall Street to fund the recovery by injecting private capital - not taxpayer dollars - into the financial markets. Easing tax laws would prompt investors to put in their own dollars, they said. The plan also calls for: participating firms to disclose the value of the mortgage assets on their books, ending Fannie Mae and Freddie Mac's securitization of "unsound mortgages," reviewing the performance of the credit rating agencies and having the Securities and Exchange Commission audit failed companies to ensure their financial standing was accurately portrayed. House Republicans also want to create a panel to make recommendations for reforming the financial industry by year's end. Meanwhile, the ranking Republican on the Senate Banking Committee has another idea. Sen. Richard Shelby, R-Ala., said he doesn't support the Treasury plan until there is serious consideration of alternatives. He proposed Thursday adding funds to the Federal Reserve and Treasury to allow them to lend more to financial institutions. CNN Correspondent Kate Bolduan and Congressional producers Deirdre Walsh and Lesa Jansen contributed to this report.  First Published: September 26, 2008: 6:32 AM ET   The crisis: A timeline Bailout: What's next This isn't Armageddon 'Financial crisis'