Dow falling hard(glad that bailout worked)

[CrimsonWhite]

Another four hundred points today. I thought this bill was going to stop the bleeding?

NEW YORK (CNNMoney.com) -- Stocks slumped Tuesday, with the Dow falling as much as 404 points, as the Fed's plan to loosen credit markets failed to counter investor pessimism about the government's ability to rescue the markets.

Ben Bernanke's dour economic outlook in an early afternoon speech added to the day's weakness. And a report showed consumer borrowing in August fell for the first time since January 1998.

With 30 minutes left in the session, the Dow Jones industrial average (INDU) had lost 368 points or 3.7%. The blue-chip average ended below 10,000 Monday for the first time in almost 4 years.

The Standard & Poor's 500 (SPX) index fell 4.1% and the Nasdaq composite (COMP) lost 4.2%. Both ended at multi-year lows Monday.

CNNMoney.com Market Report - Oct. 7, 2008

 

[dilloduck]

Another four hundred points today. I thought this bill was going to stop the bleeding?

I think it was to just slow it down enough for big money to save themselves.

 

[CrimsonWhite]

I think it was to just slow it down enough for big money to save themselves.

Correction 500 points. I will vote for the first Presidential Candidate that says this bill was a mistake.

 

[Kevin_Kennedy]

Correction 500 points. I will vote for the first Presidential Candidate that says this bill was a mistake.

Bob Barr 2008 — Liberty for America



At any rate, lowering interest rates is once again just adding to the problem. Bernanke is an idiot.

 

[CrimsonWhite]

Bob Barr 2008 — Liberty for America



At any rate, lowering interest rates is once again just adding to the problem. Bernanke is an idiot.

Let me rephrase. I'll vote for the first viable candidate that admits this bill was a mistake.

 

[Kevin_Kennedy]

Let me rephrase. I'll vote for the first viable candidate that admits this bill was a mistake.

 

[DavidS]

Correction 500 points. I will vote for the first Presidential Candidate that says this bill was a mistake.

McCain could've won so many votes if he would've voted against the bailout package. Not doing so has cost him this election.

 

[CrimsonWhite]

McCain could've won so many votes if he would've voted against the bailout package. Not doing so has cost him this election.

I agree

 

[jillian]

I agree

Actually, I think McCain would have won if he was the same person who ran in 2K... I don't know what they've done with that guy. He never would have picked someone like Palin.

 

[CrimsonWhite]

Actually, I think McCain would have won if he was the same person who ran in 2K... I don't know what they've done with that guy. He never would have picked someone like Palin.

I miss that guy.

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[user_name_guest]

Bailout is just a patch, a bandaid. You need major surgery in order to close the wound of an economic collapse.

 

[Kevin_Kennedy]

Bailout is just a patch, a bandaid. You need major surgery in order to close the wound of an economic collapse.

What exactly do you mean by major surgery?

 

[jillian]

I miss that guy.

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Me, too, actually. He seemed like a decent sort.

 

[DavidS]

I miss that guy.

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I voted for that McCain back in 2000. I wanted Bush to pick him for VP. I miss him terribly. That was a great man who would've inspired leader I'm not sure what happened to him.

 

[editec]

What exactly do you mean by major surgery?

Major surgery to correct the flaw in the current system starts with 535 blindfolds, 535 walls and 535 firing squads.

Fuego!​

 

[Larkinn]

Let me rephrase. I'll vote for the first viable candidate that admits this bill was a mistake.

At this point McCain is about as viable as Barr