Monday, September 22, 2008

Fools Rush In -or- Just in Time?

Dodd: Congress Must Be Careful With Financial Mess

Monday, September 22, 2008 11:23:30 AM

Sen. Christopher Dodd says it's just as important to act responsibly as it is to move hastily on legislation aimed at stabilizing the country's troubled financial markets.

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Markets Were 500 Trades From a Meltdown


Last updated: 6:20 am

September 21, 2008

Posted: 4:16 am
September 21, 2008

The market was 500 trades away from Armageddon on Thursday, traders inside two large custodial banks tell The Post.

Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.

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1 comment:

Anonymous said...

Should we really care? After all, God has a plan......right?