RECENT POSTS
- Gene Munster Expects Apple Growth, Dividend
- Follow Leon Cooperman into RIM, Halliburton?
- LinkedIn CEO Calms Post-Lockup Concerns
- Anthony Scaramucci: S&P 500 Stocks Still Cheap
- Your First Move For Friday February 10th
- Home Builder Optimism Up, Industry Expert Says
- Chart Patterns Suggest Pullback at Hand
- UPDATE: Massive Trend Just Getting Underway in Financial Services: Finerman
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the latest show here.
HEDGE FUND TRADE OF THE WEEKWhich names are generating the most chatter across the hedge fund community this week?
CALL TO THE FLOOR | CEO EXTRACheck out our library of CEO interviews; conversations from TV as well as web exclusives.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTS
Download Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY SLIDESHOWS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up for our daily newsletter!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
A Line In The Sand
Text Size 
Web Editor
 |
With the Dow [.DJIA
Loading...
()
] making it’s largest one day point drop in history and lawmakers at an impasse over how to resolve the credit crisis, CNBC’s Steve Liesman worked the phones and came up with some insights for you.
The Bank Club
Liesman says he thinks the Federal Reserve is trying to create a club of elite banks. From what he can tell the guys in the club are JP Morgan [JPM
Loading...
()
], Bank of America [BAC
Loading...
()
], Citigroup [C
Loading...
()
], Goldman Sachs [GS
Loading...
()
] and Morgan Stanley [MS
Loading...
()
]. "I think those are five institutions the Fed will liquefy to the bitter end and will not let fail. That’s the line the Fed is drawing around the financial system."
Rate Cuts
Meanwhile, Liesman also tells us the Fed funds futures market has now baked in a full 50 bps rate cut by November. However, don’t expect too much from the Fed immediately. Bernanke is probably wary of stepping in because the bailout has gone from a financial issue to a political issue.
The McCain Factor
In Iowa, Republican John McCain spoke about the failure of bailout legislation to pass Congress. He began his speech by saying, “I believe the challenges facing the economy could have a grave impact on every American worker, small business owner and family if our leaders fail to act.”
And the he added, "Now is not the time to fix the blame; it's time to fix the problem."
But the thing that made the hair on Steve Liesman’s neck stand up is when McCain said we need to go back to the drawing board. There is nothing else on the drawing board, Liesman adds. McCain's language makes me worried, he concludes.
- Gene Munster Expects Apple Growth, Dividend
- LinkedIn CEO Calms Post-Lockup Concerns
- Anthony Scaramucci: S&P 500 Stocks Still Cheap
- Home Builder Optimism Up, Industry Expert Says
- Chart Patterns Suggest Pullback at Hand
- UPDATE: Massive Trend Just Getting Underway in Financial Services: Finerman
- Terranova: Beware Nuance Play On Apple Spike
- Top Fashion Stocks for 2012
- Pros Bullish On Visa, Even After It Hits a New High
- Semantics Suggest Higher Bid Ahead for Illumina: Finerman
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
Trader disclosure: On Sept 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (WMT); Adami Owns (AGU), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL) and (AAPL) Puts; Najarian Owns (BIIB) Calls; Najarian Owns (GS) Call Spread; Najarian Owns (MS) and (MS) Puts; Najarian Owns (NCC) Call Spread; Najarian Owns (WB) Put Spread; Najarian Owns (XLF) Straddle; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (DVN); Finerman's Firm Owns (IMCL) Call Spreads; Finerman's Firm is short (IYR), (IJR), (SPY), (MDY), (IWM), (COF), (SPG, (BBT); Finerman's Firm Owns (BIIB) Calls
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes
