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New York - Stocks Stagger Amid Worries About Bailout |
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Sep 23, 2008 at 04:07 PM
News Source: CNBC
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The market's mood has been uneasy all day as investors worry about how and when a government bailout of the financial sector would go through.
"I think everybody thought [the bailout] was a done deal. And all of a sudden Congress and everybody is talking about it for two days," said Nadav Baum, managing director of investments at BPU Investment Management in Pittsburgh. "Markets hate uncertainty — especially now."
The DJ Industrial average moved down 161 points to close at 10,851
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Read Comments (3) — Post Yours »
1
Sep 23, 2008 at 04:19 PM Anonymous Says:
The Republican motto has been that the market corrects itself if big government stays out. What happened to their chochmo or does it mean the correction of the market is borne by the tax payer. Some of us saved invested in the market and are losing our hard earned money intended for retirement
2
Sep 23, 2008 at 05:13 PM Anonymous Says:
"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself."
-- The 2008 Republican Party Platform, adopted earlier this month.
Ha ha ha ha ha!
3
Sep 23, 2008 at 10:33 PM Anon Says:
"The economy is strong."
-John McCain, earlier this month