Miserable Week on Wall Street as Economic Fears Persist (Worst Weekly Point Loss Since 9/11)


	Miserable Week on Wall Street as Economic Fears Persist (Worst Weekly Point Loss Since 9/11)

tabsey

11-9-2007 6:37 PM

120 views

tags:

economy

tabsey says:

Read more: http://abcnews.go.com/Business/MarketTalk/story?id=3845...
Bush doesn't seem to say anything about the state of the economy. This is the result of Greenspan's efforts to give Bush the economy needed to fund the wars. Now the people pay for it with lost homes, no medical for the poor and kids.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2f42f847-fd7d-47c8-a610-062914cd773e/02C42021-D885-414E-8131-945FF70CE00E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3060951&mesg_id=3060951" href="http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3060951&mesg_id=3060951" style="font-size: 11px;">www.democraticunderground.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3060951&mesg_id=3060951"><DIV>NEW YORK (AP) -- Wall Street finished a turbulent week with another huge drop Friday after major banks warned of further losses on their debt portfolios, raising investor concerns that the credit market slump shows no sign of abating. The Dow Jones industrial average fell more than 220 points.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3060951&mesg_id=3060951"><DIV>Bank of America Corp., JPMorgan Chase & Co. and Wachovia Corp. all said the ongoing credit crisis will cause another round of heavy losses during the fourth quarter. Financial institutions took big hits during the last quarter as losses from subprime mortgages hurt their balance sheets.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3060951&mesg_id=3060951"><DIV>BofA said continued "market dislocations," including those related to securities it owns that are backed by loans, will affect its fourth-quarter results. The bank did not provide an estimate of how large the impact will be. JPMorgan said difficult conditions may cause a fourth-quarter writedown, but did not say how much.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/02C42021-D885-414E-8131-945FF70CE00E/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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