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Thursday, September 25, 2008
Obama And McCain: Mortgage Rescue Plan Is Still Within Reach
Greg Robb
MarketWatch Pulse
WASHINGTON -- Democrat presidential candidate Barak Obama and Republican presidential candidate John McCain said Thursday evening that a mortgage rescue plan was still within reach even though a White House meeting failed to seal the deal. The candidates spoke on television after leaving the White House closed-door meeting. Participants said House Republicans presented a new proposal that differed from the plan put forward last week by Treasury Secretary Henry Paulson. McCain defended his House Republican colleagues, saying that they had a right to air their concerns. "They have legitimate concerns," McCain said. "There never was a deal," he added. But he said House Republicans were aware of the gravity of the situation, and want a final agreement.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
