I said Bush would let the markets crash if Obama won, now do you believe me? ?

Question

The Dow is down 486 points.
I said yesterday Bush would stop the Plunge Protection Team from propping up the stock market like they have been doing if Obama won.
Looks like I wasn't wrong.
Link to the wiki on the PPT- the Wall Street journal says they invest in the market to prop it up with government funds:
http://en.wikipedia.org/wiki/Executive_Order_12631#Plunge_Protection_Team

link to my question:
http://answers.yahoo.com/question/index;_ylt=AklS9opoFuXpmRaGitHeY4Psy6IX;_ylv=3?qid=20081104174057AAQcdzC

Answer 1

Finally someone who gets something right.

Thanks for pointing that out to people!

Answer 2

If only Bush had the power to do all the things that have been attributed to him... Bush doesn't push some magic button to affect the markets. One thing he did that had a huge effect was to announce that we should drill for oil in an effort to obtain energy independence. Within 2 days of the announcement that the supply might be increased in the future, the oil price went down.



Although Bush did not create the economic crisis, I agree that he could have done more to fight congress though. Look into the history of the failed mortgage banking. Can't blame that on Bush. 73% of the voters polled said that congress wasn't doing a good job. We have had a democratic majority in congress the past two years. After hearing the poll, at first I thought people realized the role that Barney Frank and Chris Dodd had in the economic crisis. However, more dems were elected to congress so it is apparent that people don't understand.

Answer 3

The Dow has been dropping steadily over the past year.



EDIT***

Good luck with your theory.



Quoted from your wikipedia link:

"Conspiracy theory claims about the Working Group generally include that it is an orchestrated mechanism that attempts to manipulate U.S. stock markets in the event of a market crash by using government funds to buy stocks, or other instruments such as stock index futures—acts which are forbidden by law."

Answer 4

LOL, as if Bush controls the markets.



The market has been making wild swings for months. Where ya been? The market took its biggest Election Day bounce in history yesterday, and a lot of people were locking in their profits today.



Also, there's a lot of uncertainty in the markets. Investors are wondering what a change of parties will bring ... not because they're afraid of Obama, but just because it's something new. Things will change, and the market will have to adjust, after being used to the GOP way of doing business for eight years.



You need to get a grip. These days, Bernanke could sneeze and the market could drop 300 points.

Answer 5

The President doesn’t control Wall Street or the Stock Market, please go back and complete a semester of economics and government because your sophomoric understanding of the market makes you look retarded.



Some of the sell of today was due to yesterdays high numbers, remember “buy low sell high”???

Its called profit taking, you know, the reason why people invest.

Another reason the market dropped today is news that the service sector is contracting (getting smaller) and the steel industry is talking job losses.

I also know some people who believe Obama may end up trying to legislate some higher taxes on business and capitol gains and they want to get out of the market while it’s high.



I’m sorry that you’re ignorant of economics, do you also believe Bush has a weather machine?



LOL!!!!!!!!!!!!!

Answer 6

No, I don't think that drop had anything to do with what Bush or Obama did today. Nobody makes the market crash for political reasons. We are invested in the markets.

Answer 7

DOW did this to themselves. Other stock markets are having trouble in other countries, I don't think Bush has control of this. Unless you think Obama can fix this, then good luck.

Answer 8

That wasn't a very risky prediction on your part. Historically, the market always goes up the days immediately before the election because they are glad it's almost over. And then the market always drops the immediate days thereafter, because investors are waiting to see what is going to happen.



Bottom line: Stocks rise and fall... whether it is a good market or a bad market.

Answer 9

The markets were crashing before the election, and that influenced a lot of people to vote for Obama.

Answer 10

The stock market investors are reacting because they do not any confidence in Mr Obama's ability to fix the economy

Answer 11

he's not . he comes from monkey land. he's a vast monkey boy! this is my answer. don't love it ? do not ask for ppls oppinion.or might want to all of us consider u monkey boy worshippers who're to ignorant of see what undesirable Obama is doing to our usa? or are we assume to all consider demos b/c they imagine they recognize all of it and do no incorrect? i imagine this is all the above ! Dick H .. lol do not recognize what i became wondering! sorry nicely Logan... after I get a mature question i'll respond to u with a mature answer . that guy Steve less than me is easily one of Obama's brainwashed worshippers. He gained the election b/c such an excellent form of illegals, Mexicans and black oh and monkey boys and arabs voted him in b/c of his race and faith! this is all! he had the speech ingredient all mixed up alot of the situations and ppl disregarded it! they were gazing his race and faith! Logan... is that what u call it? ok , keep telling urself that. , U would make it quicker or later . purely keep telling urself " convinced u can" lmao ok good nighttime kiddo, ur God "Obama" continues to be a monkey boy in my e book who's popping our usa remote from God and right away into hell! nicely it would instruct u , i do not provide a rats *** how I spell on the following huh? understanding yahoo has that lil grammer fixing ingredient facilitates u alot , would not it haha Im certain u can examine it , ur answering me lower back with bruised feet lol a minimum of im no longer masking myself up with horseshit! lately women human beings can act in spite of the indisputable fact that they pick to , or have u and Obama arise a fashion to end that too? certain sounds like Im offending u and it would not take a mind health practitioner to figure that out haha "One very last remark Vickey, proud, smart and positive women human beings do no longer act like you're at present". tell that to urself , also . oh I forgot ur a democrat, this is how they stay , breath, ACT on a widespread foundation haha my undesirable , deliver me to a fema camp now lmao

Answer 12

Investors are pulling out before Obama has an opportunity to get his hands on their money. These are the retirement plans people have worked hard to earn. They have a right to protect themselves and it is not President Bush's fault. Obama has stated that he plans to "steal in my opinion" that which people have worked hard for and give it away. I am making my call as soon as I finish typing this. You people who are waiting for my money will be waiting a long time......I help those who will help themselves but for the rest of you who are waiting for a hand out....you won't get it from me.

Answer 13

Dumba$$...the market was crashing before Obama won last night. You weren't crying about when McCain was running were you?

Answer 14

Don't blame it on Bush. Small business owners across America, are running for the border. We have sold our stocks, moved our money. And we are out of here. I laid off 125 employees today, and I am in the process of moving my businesses to another Country. Ever single small business owner, I know in Phoenix are doing the same thing. Americans betrayed us, and now it's time to return the favor. I hope they have plans, for surviving with no money and no jobs. I can't wait to see how Obama handles this one. Welfare for everyone, I doubt that very seriously.

Answer 15

486 points is nothing last week it was dow almost 1000??



So the market is actually doing better that last week LOL

Answer 16

your an idiot to think bush has a direct effect on the stock market.

Answer 17

You people act like a 500 point fluctuation is surprising these days...



Bush didn't "let" the market crash, but 8 years of his failed neocon Reganomics put it where it is today.

Answer 18

bush doesnt just let the market crash. it happens by itself and its been doing it for a long time.

Answer 19

The market hates instability. We are in a transition. That equates to unstable.

Answer 20

It was the earning reports that just came out showing that we are in a recession.

Answer 21

I knew it would dump if Obama won, the stock market is always a good reactor to the new candidate. Apparently, they don't like him or his tax plan either. It will ruin our country.

Answer 22

Oh don't start that crap. Obviously now that you've won, everything will still be the fault of Bush and/or racism.

Answer 23

Lol, man rofl, U R SO FUNNY, MAN I CAN'T BELEIVE IT YOU RACIST UNEDUCATED IDIOTS WHO WERE ABUSED AS KIDS IN THEIR REDNECK TOWN ARE USING THE STOCK MARKET, Hahahahahahahahahahah U R SO LOW

Answer 24

Oh God, I bet you think Bush made it rain today too. For people who don't like him you sure put a lot into him and what he can do.

Answer 25

I had no idea Bush was all powerful!!

BWHAAAAAAAAAAHAHAHAAAAA!

It that is true why did Obama win?

Dummy........ :P

Answer 26

Just PROVES where Bush is head is........... up his butt!!



He never cared about us or this country!! I am Proud to say I never voted for his lying a$$



IMPEACH HIM!