Wednesday, November 12, 2008
Stocks beaten down by changes in bailout plan, concerns over consumer spending, economy
"A disheartened Wall Street fell for the third straight session Wednesday as investors absorbed another series of dismal corporate reports and news that the government won't buy banks' soured mortgage assets after all. The Dow Jones industrials fell 340 points, and all the major indexes dropped more than 3 percent." --- Well, duh, the banker takeover bill, known by the proles, in newspeak, as the "Bailout Bill" was about getting freedom to spend money freely on whatever, whenever, however much, without fear of any legal recourse. So, of course they won't buy bad assets if they have freedom to buy good assets!!!