On second thought, maybe that wasn’t such a good idea.
Treasury Secretary Hank Paulson did an about face last week as he told Congress that the administration was backing away from the original plan of using the $700 billion bailout fund to purchase toxic mortgages. Instead, he said they would like to “consider using (the) remaining [...]

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Last week’s business news underscored the severity of the current economic slowdown.
We all know October was a bad month in the financial markets. What we didn’t know until last week was how bad the economy was faring during the market meltdown. Well, on Friday, the Labor Department delivered the dreaded news that our economy shed [...]

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Thank goodness, October is over.
Market historians were busy last month rewriting the record books on what seemed like a daily basis. Unfortunately, many of the new records were the type that we’d prefer to have remained unbroken. Here are a few of the new entries:
• [...]

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Almost, but not quite.
As we awoke early last Friday morning and turned on our computers, we saw something that doesn’t happen very often. Pre-market opening indicators were suggesting a massive drop in the U.S. stock market when trading opened at 9:30 am Eastern time, according to MarketWatch. We already knew that many overseas markets had [...]

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High volatility continued last week, but when the closing bell rang on Friday, investors were smiling as the Dow Jones Industrial Average recorded its biggest one-week gain in more than five years, according to The Wall Street Journal.
On Monday of last week, the Dow rose a stunning 936 points, but on Wednesday, it took a [...]

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“Past performance is no guarantee of future results.”
That’s a phrase you hear often in the securities business, in fact, securities regulators require that disclosure in certain written communication. It’s most common usage is to warn investors that if an investment has performed extremely well in the past, it’s no guarantee that the investment will [...]

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There’s only one word to describe what took place in the financial markets last week - ugly.
You probably don’t need to glance at the box score below to know that stocks dropped significantly last week. Monday’s dizzying drop of 777 points in the Dow Jones Industrial Average, attributed to the House of Representative’s failure to [...]

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Been busy with a lot this week, especially watching Vice Presidential debates, and obviously the enormous financial crisis faced by this country. My bank, Wachovia, got swallowed up by my other bank, Wells Fargo. Some other news in the headlines:
Fannie Mae forgives loan for woman who shot herself
Bailout: Will it work?
House Passes Rescue Bill Second [...]

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“Historic” is not a word we use lightly, but it seems appropriate to describe what took place in the financial markets last week.
As you look at the box score below, it masks the volatility that took place in one of the wildest weeks in Wall Street history. When the dust settled, the broad S&P 500 [...]

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“Historic” is not a word we use lightly, but it seems appropriate to describe what took place in the financial markets last week.
As you look at the box score below, it masks the volatility that took place in one of the wildest weeks in Wall Street history. When the dust settled, the broad S&P 500 [...]

[Read more →]