Wednesday, February 11, 2009

And Change Is What The Country Got...

Dow Jones Fall 382 Points
Lack Of Confidence In Stimulus

Investors are frustrated with the government's latest bank bailout plan — and showing it by unloading stocks. The major stock indexes fell more than 5 percent Tuesday, including the Dow Jones industrial average, which tumbled 382 points. Financial stocks led the market lower, reflecting Wall Street's growing concerns about the government's ability to restore the health of the banking industry.

"The economy is in deep trouble. The stimulus plan is not very stimulative. It's not addressing the real problem," Buetow said. "We have an insolvent financial system. The government is trying to find a comprehensive way to save it. They can't afford to just throw money at it. That's what they tried to do in the fall and that clearly did not work."
Read Article...

free hit counters