Me too.
Speaker of the House Nancy Pelosi (D-CA) (R) walks past House Financial Services Committee Chairman Barney Frank (D-MA) as she leaves a news conference in Washington, September 29, 2008. (Jim Young/Reuters)
Posted on 09/29/2008 2:35:17 PM PDT by NormsRevenge
NEW YORK (AFP) - Wall Street blue-chip stocks suffered their worst single-day point decline Monday as markets went into convulsions after US lawmakers rejected a massive rescue of the financial system.
The plunge came with investors already fretting over a deepening of banking sector problems in Europe and the United States, with at least three banks saved with government aid.
The Dow Jones Industrial Average sank 777.68 points (6.98) percent to close at 10,365.45 in its biggest single-day point decline ever.
The slide eclipsed a 684-point drop on September 17, 2001, when the markets reopened following the September 11 terror attacks. In percentage terms, the drop was the 17th worst on record.
The market bloodbath sent the Nasdaq down 199.61 points (9.14 percent) to 1,983.73, its lowest since 2005. The broad-market Standard & Poor's 500 index slid 106.59 points (8.79 percent) to 1,106.42, hitting its lowest level since 2004.
Markets went into panic after the House of Representatives rejected a fragile compromise plan to spend up to 700 billion dollars to revive a financial sector weakened by a US housing meltdown.
Crude oil plunged 10 percent as investors priced in a much weaker economic outlook. New York's main contract, light sweet crude for November delivery, tumbled 10.52 dollars a barrel to close at 96.37 dollars.
"It is unclear what the next step will be. ...
(Excerpt) Read more at news.yahoo.com ...
A New Record!!!
Way to go , Pelosi!!!
The Corrupt Dems deliver three 7s .. What do we win?
Remember that in November
It can fall 4000 for all I care as long as they kill this boondoggle.
Me too.
Speaker of the House Nancy Pelosi (D-CA) (R) walks past House Financial Services Committee Chairman Barney Frank (D-MA) as she leaves a news conference in Washington, September 29, 2008. (Jim Young/Reuters)
SEVENS, a winner!
(Or - This just in, God says He's not dead and would appreciate being taken off of the cart)
Ex 32:8
'These are your gods , O Israel, who brought you up out of Egypt.' NOT!
FR Keyword: moneylist
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Am I the only one that sees the irony in 777?
A board shows the final numbers of the New York Stock Exchange, September 29, 2008. By a vote of 228-to-205 the House of Representatives rejected a compromise plan that would have allowed the Treasury Department to buy up debt from struggling banks. (Brendan McDermid/Reuters)
Yesterday, I redirected all my 401K money into “capital preservation”. It don’t pay squat, but It won’t go bust. I’ll watch the market for a few months and then redirect if needed.
US Capitol at sunset in Washington, DC. The US House of Representatives on Monday dramatically rejected a 700 billion dollar Wall Street bailout plan, sending stocks plunging throwing desperate efforts to calm the US financial crisis into disarray. (AFP/File/Karen Bleier)
Why can’t they give the money to the citizens of USA? WE would spur the economy!
Why can’t they give the money to the citizens of USA? WE would spur the economy!
Do you really think the DNC is that well organized? If so, then they’re a bigger threat than we’ve been led to believe!
I applied for a car loan. They told me `no problem’. I did not ask them if they had been watching the news.
I will buy a new car, drive to my job tomorrow, return to my house, and the Democrats, news channels and neo-cons here on FR will still be telling me that they must get our money, or signatures as surety, or we’re all going to hell in a handcar.
The leaves will continue to fall, the climate will become increasingly cooler, my pup will continue to chew and . . .
Well, those of us who are retired and living off of our IRAs and 401Ks may not be quite so cavalier about the Dow falling to 4000. Philosophical consistency is nice, but there is a personal dimension to this too.
I oppose socialism every time.
Poor Comrade Pelosi, she was hoping we would go into complete collapse.
she is also an idiot...
And the House saved our Democracy.
not such a strange vote after pelosi’s ‘tirade’.. some of the babble I hear on the mediaphere is the bill failed as nancy went partisan and hardened quite a few on both sides to reject it, not sure how close it might have passed by otherwise but..
I don’t have much sympathy for all those who created this mess .. it won’t be the end of everyone’s careers regardless if they get 86’d at some point, they’ll all just recycle into lobbyists anyway..
I think some of their cohorts who benefited most from the raping of the public trough should end up milking goats or something for a few years
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