New York – U.S. Stocks took a dramatic plunge on Monday afternoon after the government’s bailout plan — touted by its supporters as a balm for the current market stress — failed to pass the House of Representatives, setting off a fresh wave of anxious selling.
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In yet another day that has shaken the embattled canyons of Wall Street, the Dow Jones industrial closed down 777 points to close 10,365
Wall street guru Jim Cramer said today, that if the U.S. government will not raise the FDIC insurance from $100,000 to $1 Million, We will see the market tank more than 2500 points in the next few weeks.
All sevens are beloved – hmmmm…. EREV ROSH HASHANAH AND THE DOW IS AT 777 ??? EVEN IN THE DARK YOU SEE HASHEM!!!!!!!!!!!!!
מרא דעלמא! זיי זאגן אז עס איז די גרעסטע טראסק פאר איין טאג אין די היסטאריע. מען דארף איינרייסן ר”ה!
Hashem is going to help, no worries.
Baruch Hashem for financial deregulation, for the conservative Republicans who have foisted it on this country, for John McCain, the self-proclaimed “deregulator,” for the 2/3 GOP majority who voted against the “bailout” and for the myopic Frummies who support them and think Palin’s Israeli flag and being against gay rights are the real important issues facing this country. A git gebenched yor
Never give up there is a bashefer on the velt
This is very good news, I know it might not seem like it, but it is. It would take us decades to recover that 800 billion, if we ever recover it at all. These banks made their own problems, let them clean it up themselves.
The markets will recover, this was just a tantrum that they didnt get their money.
Chase, Citibank, Bank of America are all stronger then ever. The bad banks giving out bad loans are out of the game now. This is the free market my friends. Don’t be panicked.
Oy Vey… Unisana Tokef… Me Yayoni Ume Yaishir???
7 is a very positive spiritual number, this is a siman bracha, I promise!
Hashem is going to help, no worries.
I’m going to buy 7up for yom tov if its such a good #
This is not all about big banks – it is about the entire financial system trusting other banks abilities to repay loans. It is also about Federal (liberal) regulations that forced banks to give loans where they wouldn’t have – redlining or income qualification.
Yonasan you contradict yourself.
“7”…Yes true and it’s motzai Shmitah 7…according to chazal “b’motzai shmitah Yigalu”…may it be a GOOD sign!
Don’t worry when Mrs Palin takes office everyting will be resolved
Mikey:
The loans that caused this problem were neither Federally backed nor Federally mandated. Risky loans were bundled together, and then shares in those loans were sold as unregulated investment vehicles. The blame goes to the lack of regulation (thank you Phil Gramm), not Federal requirements.
i drank 777 whiskey to celebrate