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You Might Not Realize How Awful This Market Is

by Joe Weisenthal

The benchmarket S&P 500 index is not really down by that much from its highs. The decline is on the order of 7%, which is significant, but not a massacre.

However, there are massacres happening in this market if you look at the right places, and especially if you look at some areas which are very economically sensitive.

Check out a chart of BP, which is getting hit by the double whammy of a slowing economy and falling oil.

We’re talking about a third of the company gone.

Read more:  You Might Not Realize How Awful This Market Is – Business Insider.

CONGRESS INSIDER TRADING RUN AMOK: When They’re Not Trading On Private Information, They’re Selling It!

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Henry Blodget

The good folks at CNN were kind enough to have me on this morning to discuss the latest Congress insider trading revelations.

To wit: In addition to trading for their own accounts with private information gleaned from their jobs, our Senators and Representatives regularly meet privately with hedge funds who then use what they learn about impending legislation to cash in.

No, no, protests Congress. There’s no scandal. It’s just business as usual.

And of course that’s the point.

If this were happening in the private sector, Congress would be screaming bloody murder about corruption and greed.

Because its Washington, however, it’s just the way things are done.

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