Tag Archives: economic crisis

WaMu: Casualty of The Boom and Bust

Tuesday, December 2, 2008

It has been a while since WaMu was taken over by the FDIC and sold to JP Morgan Chase for a fraction of its worth. I still have accounts with WaMu even though I despise Chase.

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A Guide to the Economic Crisis for the Rest of Us

Monday, October 6, 2008

The politicians in DC have been telling us that we need to act now in order to stabilize the economy. They passed a massive bailout bill against the voice of the people last week in order to do just that. Afterall, the bill was named the Emergency Economic Stabilization Act of 2008. In predictable fashion, markets around the world closed lower in the days and even minutes after the bailout was passed. Could it be that the politicians have misdiagnosed the problem and is now proceeding with the wrong treatment?

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The 777 Point Collapse

Monday, September 29, 2008

The House defeated the $700 billion bailout plan today and the Dow Jones responded by dropping 777 points–777.68 to be exact. This was the largest single day drop ever. Analyst and politicians may start blaming the people for being non-supportive of this bill but, the market had to fall. It was up or held steady because of speculation that a bailout was coming and due to the naked short selling bans. The market is now merely doing what it is supposed to do: find equilibrium.

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