Posted on 02/23/2009 1:19:47 PM PST by cll
NEW YORK (AP) -- The major stock market indexes have staggered to their lowest levels in more than a decade, pulled down by investors' rapidly waning confidence. The Dow Jones industrial average and the Standard & Poor's 500 index are at the lowest point since 1997, succumbing to growing worries about a recession that has no end in sight.
Most financial stocks were pounded even as government agencies led by the Treasury Department have said they will launch a revamped bank rescue program. It includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.
The Dow Jones industrial average is down 250 at 7,114. The Standard & Poor's 500 index is down 26 at 743, while the Nasdaq composite index is down 53 at the 1,387.
(Excerpt) Read more at finance.yahoo.com ...
Doin’ a heck of a job there, Obambi!
“Most financial stocks were pounded even as government agencies led by the Treasury Department have said they will launch a revamped bank rescue program.”
Maybe that’s why they got pounded.
People must be wising up and stopping the 401k scam. Those things were a damn GYP. Hope no one is still putting any money in them.
Obankrupt.
Obama talks...the Market sucks....
“...even as government agencies led by the Treasury Department have said they will launch a revamped bank rescue program.”
Try “because”
And all the while they will continue to pour more and more of their economic idiocy on the fire of decline not having a clue they are the root cause of it all...
We’re going third world economics and we’ll get the same results...
Hope! Change!
Mister, we could use a man like Herbert Hoover again.
There’s your hope and change, America. Bet you’re hoping 2010 comes real soon so you can make another change, aren’t ya?
Barackruptcy!
If I was wealthy enough to be an investor I’d shy away too.
Obama has doubled our National debt with only a few weeks in office. Our top 5% earners (the heaviest investors) are concerned about Democrats drastically increasing their tax. Small investors are taking a wait and see attitude. Until investor confidence is restored it’s doubtful the market will rise much.
Our President’s constant harping on how bad the economy is doesn’t help much - neither does our “esteemed” media.
"So what's the problem ? 1997 was a pretty good year !"
.
1997 was a pretty good year
for wine, yes, it was.
I wonder what Colin Powell thinks, feels, and how he responds to all of this...I wonder if he feels slightly responsible.
Loose Lips, sink Ships,
Loose Colins, sink Nations.
I'm beginning to wonder if I should yank mine out (despite the penality) before it get's confiscated for the "good of all".
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.