Not in free fall?
The stock market had dropped 7000 points
As it should have...
We were losing 750,000 jobs a month
Should have been much worse...
Auto companies were collapsing
They still are...
That will happen when one replaces sound operating principle with unsound notions of 'fairness'.
GDP had been negative for five quarters
Catastrophic collapse of the economy due to the unsound economic policy will do that... .
Yep... ya can't replace sound, actuarial lending policy with irrational notions of fairness and not expect a run on mortgages, that drives the cost of the underlying real property beyond the means of the market to sustain such and not expect it to collapse the market.
If that is not free fall, what is?
It was just the inevitable consequence of insinuating socialist policy into a free market.
And it's not over yet... all the idiots did was set up delays. The Markets did not correct... they simply propped up the fatally flawed system with pretend cash.
In fairly short order, all of it will crash. And there will be no resources remaining to stop it... and at that point, you'll get an idea of what 'free-fall' looks like. And my guess is that you're not going to like it much.