Oct 07 2008
So Where’s the Dow Going to be by Friday?
So the Dow was down almost 370 points yesterday after recovering form an 800 point drop.
Today it’s down 508 points.
Anyone want to guess where it’s going to be by Friday?
Will we have a financial system left?
And with folk saying the $700 billion bailout is just a drop in the bucket and isn’t enough to be really effective…I wouldn’t expect things to get any better once the Fed and Treasury starts doling out the cash (assuming they haven’t done so already.) And what’s with AIG folk getting manicures once “we the people” spent out $85 billion to save their asses. From USA Today:
AIG executives spent $500,000 at an exclusive resort just days after the U.S. government agreed to spend $85 billion to protect the giant insurer from collapse, according to Rep. Henry Waxman, the California Democrat who chairs the House Oversight Committee.
Oh it just keeps getting better doesn’t it?
