Paralyzed Markets Plunge to New Depths - FOXBusiness.com
So he dumped all this money into the banks ... pushed up taxes ... got a share of Citigroup (which btw is the reason the s tocks dropped below $1) .... talked about nationalizing the banking system ... plans on penalizing US businesses/utilities just for being in business ...
" The Dow Jones Industrial Average fell 281.40 points, or 4.09%, to 6594.44, the S&P 500 lost 30.32 points, or 4.25%, to 682.55 and the Nasdaq Composite dropped 54.15 points, or 4.00%, to 1299.59. The consumer-friendly FOX 50 sank 21.13 points, or 3.95%, to 513.47.[I have never heard of this last one which is why it isn't highlighted]
“In 35 years on Wall Street I never thought I would see this sort of a day. It’s very disconcerting to investors to see the staples of the financial sector trading below $1,” NYSE trader Doreen Mogavero told FOX Business, referring to Citigroup (C: 1.03, -0.1, -8.85%) and AIG (AIG: 0.3663, -0.0668, -15.42%). “It’s just another bombardment of negative news in the marketplace. We really need something to stop it and I think it’s got to be [positive] housing” news."
gee, I don't know why the stock market would go down?
OBAMA LISTEN TO ME ---- LOWER TAXES, RAISE INTEREST RATES
Give people back the money they've earned and let them spend it the way they need to or want to ....
oh wait ....
that would be "capitalism" instead of "socialism".
Sorry --- forgot.