Davin News Server

Dow Drops.

Wow... they ain't never happened a'fore!

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Stocks: Dow ends down 313 points after Obama win - USA TODAY - 

https://www.usaToday - .com/story/money/markets/2012/11/07/wall-street-election-react/1687277/

Nov 7, 2012 - NEW YORK - Stocks ended sharply lower Wednesday, one day after the re-election of President Obama. The Dow Jones industrial average closed down about 313 points, or 2.4%. ... The Dow, 
which ...

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Stocks plunge: Dow's worst day of the year
by Hibah Yousuf   @CNNMoneyInvest November 7, 2012: 4:26 PM ET

Stocks plunge: Dow's worst day of the year - CNN Business

https://money.cnn.com/2012/11/07/investing/stocks-markets/index.html

Nov 7, 2012 - In fact, during the two days after Obama was elected in 2008, the Dow plunged more than 900 points, or 10%. But during the past four years, the index has climbed almost 40%. And year to 
date, all ...

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The Obama honeymoon is over: Dow drops 332 - Salon.com

https://www.salon.com/2009/01/20/obama_stock_market/

Jan 20, 2009 - The Dow Jones industrial average fell 330 points, or 4 percent, closing under 8000. The honeymoon? Over -- even before the sun had set on the first day of Obama's presidency.
Only include results for this site

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AfterObama Win: Dow Jones drops below 13,000 - BusinessToday

https://www.businesstoday.in/latest/world/story/wall-street-falls-after-obama-reelection-35884-2012-11-07

The Dow plunged more than 400 points on each of the next two trading days. The blue-chip average hit bottom at 6,547 in March 2009, less than two months after Obama took office.

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WHO was President after these dates?

Date			Drop in points		Closing price

Nov. 5, 2008		486.01 (-5.05%)		9,139.27
Circumstance: A day after Sen. Barack Obama won presidential election, the Dow dropped.

Sept. 29, 2008 	777.68 (-6.98%)	 	10,365.45
The financial crisis in the U.S. deepened when the House of Representatives rejected a $700 billion bailout package.

Oct. 15, 2008 	733.08 (-7.87%)		8,577.91
The Dow Jones dropped in response to a report that retail sales have reached a 3-year low and a speech by Federal Reserve Chairman Ben Bernanke in which he says the economic recovery will be slow.

Dec. 1, 2008		679.95 (-7.7%)	 	8,149.09
The Dow sunk amid confirmation by the National Bureau of Economic Research that the U.S has been in recession since Dec. 2007 and a report that U.S. manufacturing hit a 26-year low.

Oct. 9, 2008		678.91 (-7.33%)	 	8,579.19
In the most active day in New York Stock Exchange history, investors sell off stocks in a panic, and the Dow closes below 9,000 for the first time in five years.

Aug. 8, 2011	 	634.76 (-5.55%)	 	10,809.85
The Dow dropped in reaction to Standard and Poor's downgrading of the U.S. credit rating from AAA to AA-plus.

Aug. 10, 2011 	519.83 (-4.62%)	 	10719.94
The Dow dropped still reacting to the Standard and Poor's downgrading of the U.S. credit rating from AAA to AA-plus.

Oct. 22, 2008 	514.45 (-5.69%)	 	8,519.21
The Dow reacted to weak third-quarter earnings reports from several companies that spark further fears of a recession.

Aug. 4, 2011 		512.76 (-4.31%)	 	11,383.68
The Dow plunged as investors remained on edge about the global economy.

Oct. 7, 2008	 	508.39 (-5.11%)	 	9,447.11
The Dow continued its precipitous fall as the 2008 financial crisis showed no signs of letting up, despite the passage of a $700 billion bailout package by the U.S. government.

Sept. 15, 2008 	504.48 (-4.42%)	 	10,917.51
Fear overtook the market the day after Lehman Brothers filed for bankruptcy, the largest in U.S. history. It was the worst one-day loss since the September 11, 2001, terrorist attacks.

Sept. 17, 2008 	449.36 (-4.06%)	 	10,609.66
This decline came the day after the Federal Reserve agreed to a $85 billion package to rescue the insurance giant American International Group.

Sept. 20, 2008 	444.99 (-5.56%)	 	7552.29
The Dow Jones continued to struggle in light of the country's recession.

Sept. 6, 2008 	443.48 (-4.85%)	 	8695.79
The Dow Jones continued to drop in response to panic and anxiety over the recession.

March 12, 2001 	436.37 (-4.10%)	 	10,208.25
This decline came from a faltering economy and blue-chip companies like J.P. Morgan and Pfizer as well as tech stocks posting sub-par results.

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And don't bother blaming any of that on Bush.

And don't bother with that excuse that Obama wasn't the President yet.

If the DOW dropped the day after Trump's election win and/or in the days before he took office, you'd blame HIM for the drop, so don't even try.

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Democrat Bahney Fwank's $10 Trillion Crash

That's right, shut-in.

Fwank's Fingerprints Are All Over The Financial Fiasco

http://tinyurl.com/Fwanks-Prints-All-Over-Crash

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Key Democrats opposed the Federal Housing Enterprise Regulatory Reform Act 
of 2005, which would have established a single, independent regulatory 
body with jurisdiction over Fannie and Freddie - a move that the 
Government Accountability Office had recommended in a 2004 report. 

************************************************

Barney Frank And Democrat Party Most Responsible For 2008 Economic 
Collapse

It's beyond asinine that Democrats blame Bush for ruining the economy, and 
praise Clinton as having the mostest wonderfulest economy ever, when it 
was a Clinton program that ruined the Bush economy.  But that's the 
mainstream media narrative for you.

************************************************

'THE PRIVATE SECTOR got us into this mess. The government has to get us 
out of it."

That's Barney Frank's story, and he's sticking to it. As the Massachusetts 
Democrat has explained it in recent days, the current financial crisis is 
the spawn of the free market run amok, with the political class guilty 
only of failing to rein the capitalists in.

The Wall Street meltdown was caused by "bad decisions that were made by 
people in the private sector," Frank said; the country is in dire straits 
today "thanks to a conservative philosophy that says the market knows 
best." And that philosophy goes "back to Ronald Reagan, when at his 
inauguration he said, 'Government is not the answer to our problems; 
government is the problem.' "

In fact, that isn't what Reagan said. His actual words were: "In this 
present crisis, government is not the solution to our problem; government 
is the problem." Were he president today, he would be saying much the same 
thing.

Because while the mortgage crisis convulsing Wall Street has its share of 
private-sector culprits -- many of whom have been learning lately just how 
pitiless the private sector's discipline can be -- they weren't the ones 
who "got us into this mess." Barney Frank's talking points 
notwithstanding, mortgage lenders didn't wake up one fine day deciding to 
junk long-held standards of creditworthiness in order to make ill-advised 
loans to unqualified borrowers. It would be closer to the truth to say 
they woke up to find the government twisting their arms and demanding that 
they do so - or else.

The roots of this crisis go back to the Carter administration. That was 
when government officials, egged on by left-wing activists, began accusing 
mortgage lenders of racism and "redlining" because urban blacks were being 
denied mortgages at a higher rate than suburban whites.

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Only people can who understand how politics and the economy work know 
this.

Whose Fault was It?

By far the most dangerous myth is that deregulation is the root cause of 
the problem.

The culprit was a system geared toward loaning money to people who were 
not in a position to pay it back. Two policies underpinned that system: 
easy money by the Federal Reserve and the government-induced lowering of 
standards for approving loan requests.

In a recent paper for the Independent Institute, University of Texas 
professor Stan Liebowitz argues that "in an attempt to increase 
homeownership... virtually every branch of the government undertook an 
attack on underwriting standards starting in the early 1990s... the 
Clinton era."

Starting with the creation of the Federal Housing Administration in 1934 
and all the way to the norms that made Freddie Mac and Fannie Mae acquire 
substantial loans given to people with weak credit. 

Not surprisingly, once the Fed expanded credit, astronomical amounts of 
capital poured into a housing market that people assumed was protected by 
the government. What came next was a consequence of the original sin.

Freddie Mac, Fannie Mae, H.U.D., Bahney Fwank, Bill Clinton, Andrew Cuomo.

Who is responsible for the crash?

Democrats' lobbyist-induced denial to regulate Housing, led to Wall Street 
collapse:

Barney Frank: I don't see anything in this report that raises safety 
and soundness problems.

"These two entities -- Fannie Mae and Freddie Mac -- are not facing 
any kind of financial crisis," said Representative Barney Frank of
Massachusetts, the ranking Democrat on the Financial Services 
Committee.

"The more people exaggerate these problems, the more pressure there 
is on these companies, the less we will see in terms of affordable 
housing."

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Anatomy of a bubble

Step 1. The intoxication: "My house is worth millions!" From 1995 - 
2005, the number of sub-prime mortgages skyrocket. So did the house 
prices.

Step 2. The hangover: "Oh my God, my house isn't selling. What went 
wrong?"

WHY DIDN'T SOMEONE TRY TO STOP IT?

Someone did:

********* "The Bush administration today recommended the most 
significant regulatory overhaul in the housing finance industry since 
the savings and loan crisis a decade ago." - The New York Times, 
September 11, 2003.  ***************

But someone intervened to stymie the Bush administration. Who? The 
New York Times reports:

Supporters of the companies said efforts to regulate the lenders 
tightly under those agencies might diminish their ability to finance loans 
for lower-income families. . . . "These two entities - Fannie Mae and 
Freddie Mac - are not facing any kind of financial crisis," said 
Representative Barney Frank of Massachusetts, the ranking Democrat on 
the Financial Services Committee. "The more people exaggerate these 
problems, the more pressure there is on these companies, the less we 
will see in terms of affordable housing."

"The Bush administration today recommended the most significant 
regulatory overhaul in the housing finance industry since the savings 
and loan crisis a decade ago."

"Under the plan, disclosed at a Congressional hearing today, a new 
agency would be created within the Treasury Department to assume 
supervision of Fannie Mae and Freddie Mac, the government-sponsored 
companies that are the two largest players in the mortgage lending 
industry."

http://tinyurl.com/6lp5qu

"McCain Letter Demanded 2006 Action on Fannie and Freddie"

"Sen. John McCain's 2006 demand for regulatory action on Fannie Mae 
and Freddie Mac could have prevented current financial crisis, as HUMAN 
EVENTS learned."