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Fear on Wall Street Lets Dow Plunge More Than 600 Points
No matter where you look today, money are problems. Investors do not want to invest due to risk of volatility and sellers are everywhere. Fear is still spreading on Wall Street and seems like it is not going away any time soon.
Theories, Blame, and Finger Pointing Do Not Pay the BillsCEOs on Wall Street get huge salaries, and bonuses, and leave with a huge severance package, but are they the only culprits in this sub-prime meltdown? No, there are many who deserve the blame, but will not take it. Especially the Congress who has had the lowest approval rating, even lower than President Bush. The guilty who used their “bully pulpit” to make Freddie Mac and Fannie Mae give more and more no money down sub prime mortgages, that swelled the banks with toxic MBS’s they couldn’t get rid of it are now holding hearings to place the blame. Amazing, “it is like the inmates holding the parole hearings”, this is absurd.