What a bunch of whiners over on Wall Street today:
The Dow Jones industrial average dropped more than 300 points in just under 10 minutes of trading, and the major European stock exchanges sank more than 4 percent, in the first wave of investor reaction to some of the most dramatic developments in the history of high finance. Shortly before 10 a.m., the Dow was down 268 points, or 2.3 percent.
Chicken littles. This is just the market correcting itself.
The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. filed for bankruptcy protection, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp.
three weeks ago this morning, John McSame said:
I still think the fundamentals of our economy are strong.
(h/t eCAHN, attaturk)