for those that voted Obama IN

[Dolphin]

You will get Hosed also, that is fair ? is it not

Notice whom is getting the Bail out $$$

The FAT CATS !!!

As always, the rich get richer and the poor are Now much POORER

[Dolphin]

Dow ends up nearly 380 on Citigroup profits


By SARA LEPRO and TIM PARADIS, AP Business Writers Sara Lepro And Tim Paradis, Ap Business Writers – 5 mins ago
Wall Street rally on Citigroup Play Video Reuters – Wall Street rally on Citigroup

* Stock Markets Slideshow:Stock Markets
* Is Nationalization a Naughty Word? Play Video Video:Is Nationalization a Naughty Word? CNBC

Related Quotes Symbol Price Change
BAC 4.79 +1.04
C 1.45 +0.40
GE 8.87 +1.46
Neil Gallagher of Bear Wagner Specialists works on the floor of the New York AP – Neil Gallagher of Bear Wagner Specialists works on the floor of the New York Stock Exchange, Tuesday, …

NEW YORK – Wall Street has had its best day of the year, storming higher after some good news from Citigroup. Citigroup Inc. says it operated at a profit during the first two months of the year. That energized financial stocks and in turn, the entire stock market. Surprised investors drove the major indexes up more than 5.5 percent to their biggest one-day rally of the year. The Dow Jones industrials shot up nearly 380 points.

However, many analysts are still cautious — noting that Wall Street has seen many blips higher since the credit crisis and recession began. Word of Citi's performance broke a months-long torrent of bad news from the banking industry but analysts weren't ready to say the stock market was at a turning point and about to barrel higher after a slide that's lasted more than 16 months.

"To have a sustained rally, we have to have a shift in sentiment," said Kurt Karl, chief U.S. economist at Swiss Re. "One day isn't going to make a trend."

Still, the Citigroup news offered investors some hope that the first quarter will show signs of improvement.

In a letter to employees Monday, Citi Chief Executive Vikram Pandit said the performance this year has been the bank's best since the third quarter of 2007 — the last time it booked a profit for a full quarter. Based on historical revenue and expense rates, Citi's projected earnings before taxes and one-time charges would be about $8.3 billion for the full quarter.

Pandit declined to say how large credit losses and other one-time items have been that would at least partially offset profit.

Citi surged 38 percent while Bank of America Corp. jumped 27.7 percent. The stocks are among the 30 that make up the Dow. All the components of the index climbed Tuesday.

Financial stocks have been at the center of the market collapse that has left the major indexes at their lowest point in more than a decade. Reports of losses on bad loans and write-offs on shrinking assets have pounded banking stocks; Citi fell below $1 a share last week. Analysts have been worrying that hundreds of billions of dollars in government bailouts wouldn't be enough to save the big banks.

Investors welcomed Tuesday's rally as overdue after weeks of selling but analysts were quick to warn that it could be little more than a one-day pop. Ben Halliburton, chief investment officer of Tradition Capital Management in Summit, N.J., dismissed the surge as likely little more than a bear market rally that quickly evaporates.

A bear market is defined as a drop of 20 percent from a market peak — and stocks passed that point last year and continued to plunge, leaving the Dow and Standard & Poor's 500 at less than half the record highs they reached in October 2007. A bear market rally lifts stocks off their lows, but it quickly evaporates.

Wall Street has already seen a few false starts. From late November until the start of this year, the Dow and the S&P 500 jumped about 20 percent before plumbing fresh lows this month. The slide has been punishing but it is still well short of the plunge seen in stocks from 1929-32.

"I would be surprised to see us trade back over 800 in the near term," Halliburton said, referring to the S&P 500. "The news coming out on the economic front will continue to be rather gloomy."

Analysts suggested that the market's gains, especially among financial stocks, could be attributed in part to short covering, an investment strategy that tends to drive rallies in volatile markets. Short-sellers are traders who sell borrowed stock and then buy it back later on the hopes that the price will have fallen. If they believe a stock will be going up, they have to "cover" their positions, or buy shares to repay the loan and limit their losses.

Reports surfaced Tuesday that federal regulators are considering a proposal to reinstate the uptick rule, which backers say helps protect companies from excessive shorting. It was allowed to expire in 2007.

According to preliminary calculations, the Dow jumped 379.44, or 5.8 percent, to 6,926.49. Dow stocks with the biggest gains included General Electric Co., which jumped $1.46, or 19.7 percent, to $8.87. GE has a big financial services division, so it tends to move with banking stocks.

The S&P 500 index rose 43.07, or 6.4 percent, to 719.60, while the Nasdaq composite rose 89.64, or 7.1 percent, to 1,358.28.

The Russell 2000 index of smaller companies rose 24.49, or 7.1 percent, to 367.75.

About 13 stocks rose for every one that fell on the New York Stock Exchange, where volume came to a heavy 2.19 billion shares.

___

On the Net:

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com
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[Dolphin]

FULL OF PORK From both SIDES





* FOX News

* Pork Winners and Losers Play Video Video:Pork Winners and Losers FOX News
* Obama's $3.6 Trillion Bet Play Video Video:Obama's $3.6 Trillion Bet CNBC
* Crystal Clear? Play Video Barack Obama Video:Crystal Clear? FOX News

From left, Senate Minority Leader Mitch McConnell of Ky., Sen. Judd Gregg, AP – From left, Senate Minority Leader Mitch McConnell of Ky., Sen. Judd Gregg, R-N.H., and Sen. John Ensign, …

WASHINGTON – Congress on Tuesday cleared a $410 billion measure to fund the government for President Barack Obama's signature, a measure denounced by most Republicans as an example of reckless spending. The Senate approved the measure by voice after it cleared a key procedural hurdle by a 62-35 vote. Sixty votes were required to shut down debate.

Obama will sign the measure Wednesday, the White House said, but he will also announce steps aimed at curbing lawmakers' penchant for pet projects.

The $410 billion bill is chock-full of lawmakers' pet projects and significant increases in food aid for the poor, energy research and other programs. It was supposed to have been completed last fall.

The bill ran into an unexpected political hailstorm in Congress after Obama's spending-heavy economic stimulus bill and his 2010 budget plan forecasting a $1.8 trillion deficit for the current budget year. And Republicans seized on Obama's willingness to sign a bill packed with pet projects after he assailed them as a candidate.

"If it had not been for the stimulus and the budget proposal it might have been ... noncontroversial," said House GOP leader John Boehner of Ohio. "The stimulus bill riled an awful lot of people up. ... And then the budget proposal comes out."

Within Democratic ranks, there was relief, not jubilation.

The 1,132-page spending bill has an extraordinary reach, wrapping together nine spending bills to fund the annual operating budgets of every Cabinet department except for Defense, Homeland Security and Veterans Affairs.

[Pinnacle]

OK

[Lock5]

Here is something for those that did.

[FasterThanYou]

Where are the Obama supporters? I've seen very little on the news about them lately.

[$parechange]

There pi$$ed off, they didn't get their free car, free money and free food.

[Pac22]

There pi$$ed off, they didn't get their free car, free money and free food.

Ain't that the truth

[KYCanuck]

Where are the Obama supporters? I've seen very little on the news about them lately.

I would expect they are waiting to see what happens and how things work out. I don't think we got into this financial mess in three months, I highly doubt we are going to get out of it in three months.
Of course there are those who are already set to throw in the towel and say we are done!

[Dolphin]

Where are the Obama supporters? I've seen very little on the news about them lately.

I would expect they are waiting to see what happens and how things work out. I don't think we got into this financial mess in three months, I highly doubt we are going to get out of it in three months.
Of course there are those who are already set to throw in the towel and say we are done!

Still waiting

[KYCanuck]

Where are the Obama supporters? I've seen very little on the news about them lately.

I would expect they are waiting to see what happens and how things work out. I don't think we got into this financial mess in three months, I highly doubt we are going to get out of it in three months.
Of course there are those who are already set to throw in the towel and say we are done!

Still waiting

Arent' we all!

[Pinnacle]

Don't hold your breath. Remember, he "inherited" it. He didn't want it, didn't run for it, didn't ask for it. Did not win it. He "inherited" it. So it's some other's fault

[Dolphin]

Don't hold your breath. Remember, he "inherited" it. He didn't want it, didn't run for it, didn't ask for it. Did not win it. He "inherited" it. So it's some other's fault

Yes, He only Spent 350 Million Plus to GET IT !!! Now YOU, America! Are gonna Get YOURS

[Nervous Wreck]

Just out of respect for human life...I hope he survives.