That Capitol Hill-Wall St do-si-do
The Wall St. bailout package to House vote...
Then Wachovia assets go to Citigroup. Leaving just three banks with the majority of deposits.
A bad tech decision angle to this bailout. Again the Big 3 suckle the federal teat.
Turns out, it's all a bit moot, since the US House rejects the bailout package 228 to 205, sending the stock market plummeting at least 500 points, even more than the decline leading up to the vote. By 12.45pm PT, Dow down about 6%. EDIT: Day ends with a 777 point drop, roughly 7% loss in a single day. It suffices to say that everything about this administration has been unprecedented.
The text of the failed bailout plan.
The roll call vote. Interesting to see such Republican opposition. I can't help wondering if the ending of Wall Street would still involve an SEC arrest if it was updated to today's market.
BB opines.
NPR on the stock market plunge.
Interestingly, the economic drug pushers lower prices to stave off energy-price-magnification of perceived disaster.
A history of Wall Street.
Then Wachovia assets go to Citigroup. Leaving just three banks with the majority of deposits.
A bad tech decision angle to this bailout. Again the Big 3 suckle the federal teat.
Turns out, it's all a bit moot, since the US House rejects the bailout package 228 to 205, sending the stock market plummeting at least 500 points, even more than the decline leading up to the vote. By 12.45pm PT, Dow down about 6%. EDIT: Day ends with a 777 point drop, roughly 7% loss in a single day. It suffices to say that everything about this administration has been unprecedented.
The text of the failed bailout plan.
The roll call vote. Interesting to see such Republican opposition. I can't help wondering if the ending of Wall Street would still involve an SEC arrest if it was updated to today's market.
BB opines.
NPR on the stock market plunge.
Interestingly, the economic drug pushers lower prices to stave off energy-price-magnification of perceived disaster.
A history of Wall Street.