The Dow has just fallen over 700 points in the wake of the rejected bailout bill by the House of Representatives. As of today, the Dow is lower than it was the day George Bush took office.
In other words, you would have been better off keeping your money in a 0.5% interest Savings account at your bank than playing the Market. Holy Shit. We are almost over the edge of the abyss. Can anything save us at this point?
Advocates say passage of the legislation ( HR 3997 ) is critical to avert a broad economic collapse. Opponents question whether it will work.
According to AP a White House spokesman says President Bush is very disappointed in Monday's House vote rejecting the administration's rescue plan.
Update: The Dow is now down 730 points, and counting. (2:29 cdt).
Reported by crimsonblueku's diary of Daily Kos.
