GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Congratulations, you just threw 700 billion dollars down the toilet....

marketsmart · 09-29-2008, 09:12 AM

i have yet to read anything today that says this bailout plan is going to work...

worldwide stocks sink lowest point since 1997.......

Sept. 29 (Bloomberg) -- Stocks around the world plunged the most since October 1997, the euro and the pound sank and bonds rose as governments raced to prop up banks infected by growing U.S. mortgage losses.

The Standard & Poor's 500 Index fell 3.6 percent after Wachovia Corp. required a takeover by Citigroup Inc. and lawmakers predicted a close vote on the Bush administration's $700 billion bank bailout. The British pound dropped the most against the dollar in 15 years after European governments stepped in to save Bradford & Bingley Plc, Fortis and Hypo Real Estate Holding AG. Commodities fell. The cost of borrowing in euros for three months soared to a record as banks hoarded cash.

``This credit crisis is pretty deep and it's pretty deep throughout the financial industry,'' Jason Pride, who helps oversee about $6.5 billion as director of research at Haverford Trust Co. in Radnor, Pennsylvania, told Bloomberg Television.

The MSCI All-Country World Index of 48 nations lost as much as 4.4 percent, the steepest plunge since the Asian financial crisis 11 years ago. The S&P 500 retreated 43.58 points to 1,169.43 at 11:31 a.m. in New York. Europe's Dow Jones Stoxx 600 Index sank as much as 5.4 percent to 251.68, the lowest intraday level since January 2005.

09-29-2008, 09:12 AM
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	Congratulations, you just threw 700 billion dollars down the toilet.... i have yet to read anything today that says this bailout plan is going to work... worldwide stocks sink lowest point since 1997....... Sept. 29 (Bloomberg) -- Stocks around the world plunged the most since October 1997, the euro and the pound sank and bonds rose as governments raced to prop up banks infected by growing U.S. mortgage losses. The Standard & Poor's 500 Index fell 3.6 percent after Wachovia Corp. required a takeover by Citigroup Inc. and lawmakers predicted a close vote on the Bush administration's $700 billion bank bailout. The British pound dropped the most against the dollar in 15 years after European governments stepped in to save Bradford & Bingley Plc, Fortis and Hypo Real Estate Holding AG. Commodities fell. The cost of borrowing in euros for three months soared to a record as banks hoarded cash. ``This credit crisis is pretty deep and it's pretty deep throughout the financial industry,'' Jason Pride, who helps oversee about $6.5 billion as director of research at Haverford Trust Co. in Radnor, Pennsylvania, told Bloomberg Television. The MSCI All-Country World Index of 48 nations lost as much as 4.4 percent, the steepest plunge since the Asian financial crisis 11 years ago. The S&P 500 retreated 43.58 points to 1,169.43 at 11:31 a.m. in New York. Europe's Dow Jones Stoxx 600 Index sank as much as 5.4 percent to 251.68, the lowest intraday level since January 2005.