World Economy. Sep 17. Banks Suffer as Market Plunge.

Sep. 17, 2008.
Major U.S. stocks slumped Wednesday as an emergency loan to one of the world's biggest companies stoked fears about the health of financial markets.

The Dow Jones industrials tumbled more than 300 points, or about 3 percent. The Nasdaq and the S&P were recording similar percentage falls.

The selloff comes in the wake of investment bank Lehman Brothers' bankruptcy, Merrill Lynch's sale to Bank of America, and the U.S. government announcing an $85 billion plan to bail out insurance giant American International Group (AIG).

The fallout from the housing and credit market collapse "ripples through the entire financial industry and is stretching to other industries," Kelli Hill, Portfolio Manager at Ashfield Capital Partners told CNNMoney. "The question everyone is asking is 'what's going to fix this?'"

The remaining two Wall Street investment banks were hit particularly hard with Morgan Stanley down 38 percent and Goldman Sachs down 23 percent.

Source:
http://edition.cnn.com/2008/BUSINESS/09/17/world.markets/index.html

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[intrepid1950]

he is happy because he might short the stock "LEH"

[catch22af]

The irony is overwhelming! Karma is a mothafucka isn't it America? Back when the United States attacked countries for nationalizing their industries i.e. (Chile and the CIA backed coup), now to solve the financial market collapse the United States is nationalizing the financial market BWAHAHAHA

[63muhammad]

He looks happy

All put options

[doctorw2]

there is only one thing that caused this catastrophe to happen.......overspending.

[afrmaa]

scientific creation!!!

[atatozee]

the first thing they did was to split the 500 Billion Dollars helpmoney in two and spend one half on bo nuspayings for managers.

[450hp202turbo]

the best part about all these is the pricks that caused it to happen !! walk away with millons and millons. shoot the faggots i say

[jaysua]

this shit is happening world wide and this is how the one world currency will come into effect.welcome to the new world order sheeple!!!!!!!!!!!!!!!!!!!

[rOromfue]

people do NOT need banks or govt. people can live a good life WITHOUT these monstrous entities.

[TheDarkesthourofall]

Fucking politicians. They knew that this would would happen if they didn't vote to fund the bailout, but they did nothing! Unbelievable. I think a scandal by one of the parties is possible. Pelosi really is screwing things up!

[harryguitarjackson]

The banks system put its faith in fides and she only sells trust,this is what happens when you serve this pagan goddess.God told people not to go whoring after pagan gods. Fides goddess of trust,her temple on capotiline hill,one of the seven hills and highest of Rome,she kept watch over the senate,she is what your governments put there faith in,as they did not understand,( because of there greed ) the difference between. Trust and Faith.

Faith and God