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The Dow is currently down more than 550 points as I write this (10:40am). Apparently the markets don't like the bailout passing much more than they liked it not passing.
Sure makes you wish we didn't make policy based on a single day's swing in the market, doesn't it?
Update 2:26 pm: We're now down 719 points. Good thing our benevolent overlords passed that bailout, eh?
FAILout
Posted by Andrew Moylan - October 06, 2008Thoughts? Add Comment -
L. Coop said on Oct 08 2008 at 7:46pm
My wife and I live by all the rules, pay our taxes on time along with all our bills. We are in our late 70s, worked and saved for our retirement only to see my wifes IRA going down like a ships anchor. Her IRA is invested with a world wide investment firm not involved with the sub-prime mortgage mess but the effect it has had on the stock market has caused her IRA to lose $32.000.00 over the last 14 months. Thank you Washington.