Entries tagged "Fed"
The Dow ended down 74.16 points at 8,990.96 even though policymakers voted to cut rates by half a percentage point to 1.0%. Meanwhile the White House press secretary put pressure on banks that have received federal bailout funds to start making loans. Even though most analysts have guessed that the market will likely bottom in a year, a market analyst at CMC Markets told the Financial Post that it looks like stocks were looking for a bottom right now and it could take between six and eight months to complete....
The Federal Deposit Insurance Corp. took over operations of IndyMac BankCorp on Monday, and the long lines still persist at IndyMac bank branches. ...
Enter the whirlwind. It's been building, but Tuesday was a day when any ties to past reality seemed to snap and get flung around like newspapers in a hurricane. The market is spinning faster and faster, and we've reached the point where the dynamism that propels it is fueled by, well, evil thoughts, which need to be stamped out. The pack has turned on itself. ...
