financial sector: Financial Rollar Coaster Continues
- 09/15/08 06:49 AM
Financial sector is in trouble again today, the Dow Jones industrial average down 460 points. The Standard & Poor’s 500 index has fallen 54 points, and the Nasdaq composite index fell 74 points. The big news makers are Lehman Brothers, Merill Lynch, Bank of America, AIG, and the Fed buy up of $70 Billion in mortgage-baked repos. Last week we discussed the Fannie & Freddie Bailout and in my opinion it was a necessary move by the Treasury but a move that would only maintain the status quo not improve the "credit crunch" or "mortgage meltdown" situation. Today a few … (0 comments)
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