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From the Editors
The $700 Billion Failout?
Congress's zillion-dollar economic rescue vote last week failed to stop stock markets from tanking, and it's not good out there. "Apparently the markets don't like the bailout passing much more than they liked it not passing," says Government Bytes. The Dow passed 10,000--"in the wrong direction," noted Paul Krugman. A Wall Street Journal report today concludes Investors Succumb to Fears of Recession, but "other than really dumb mofos, does anybody really think the fear of recession is just now impacting the markets?" asks The Big Picture. The credit-crunchy meltdown (now 99 cents at Taco Bell) remains on the menu as banks still won't lend, says Marketwatch.
Jobs Lives, Citizen Journalism Not So Much
Citizen journalism lost some of its original luster after an anonymous goon known only as "Johntw" last Friday used CNN's iReport site to break the false news that Apple CEO Steve Jobs had suffered a heart attack. The rumor zipped across the Net like a free Radiohead track, and Apple's share price fell 10 percent before rebounding, reported Digital Media. Silicon Alley Insider posted the bogusness quickly ("We knew that our readers would want to know about the story and evaluate it for themselves") and called it "a big moment for citizen journalism"--but not long afterward admitted "citizen journalism...just failed its first significant test." Hey, everybody--Steve Jobs is fine!! (Probably.) Epicenter recalls that Apple's share price has been victimized by false rumors before.
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10 Popular Stock Blogs
24/7 Wall Street
Recent Posts: Strategic Hotels & Resorts: Bill Gates Vs. Goldman Sachs (BEE) • More ETF's Bite The Dust, Including Wal-Mart ETF (SAW, PUF, MYP, WSI, WMT) • The Witch Burning At Yahoo! (YHOO) Turns Ugly
Blogging Stocks
Recent Posts: Citigroup and Wells Fargo call a Wachovia truce • Massachusetts postpones $750 million short-term debt sale due to credit crunch • Safeway (SWY) misses, but still gets rewarded on Wall Street
DealBreaker
Recent Posts: You Know Gary Busey Is My Pick • Morgan Stanley Has No Idea What You're Talking About • The Beard Drops The "U" Word
Infectious Greed
Recent Posts: Links: IMF, Wildfires, ETFs, AIG Testimony, and the 30s • The Emerging Market Tail Wagged Hard • Heat Map of Current Crisis
Seeking Alpha
Recent Posts: U.S. Rate Cuts Not So 'Stealthy' Anymore • @VIC: Tilson & Tongue on Housing- Keep Your House Off the Market • NABE Forecasts Recession
Controlled Greed
Recent Posts: Jim Grant on the Bad Medicine • Five for the Weekend #9 • Warren Buffett on Charlie Rose
The Big Picture
Recent Posts: Modern Finance • Commercial Paper Funding Facility (CPFF) • Stealth Easing ?
Crossing Wall Street
Recent Posts: Phases of the Moon and the Stock Market • The Worst Decade Since the Thirties • The Bears Nears Its First Birthday
Footnoted.org
Recent Posts: Short list continues to grow… • Lots of security expenses at Abraxis… • GE couldn’t wait on its new sharp warnings…
The Kirk Report
Recent Posts: Rate Cut Speculation • A Race To The Exits • Mood Of The Moment
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Burbank Sportscards to Launch 30 Million Listings to eBay
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