The guys from NPR who did that tremendous episode on This American Life called “Another Frightening Show about the Economy” (Which I really can’t say enough good things about. Go and listen to it if you want a terrific primer on what’s currently happening with the economy including the Bailout and the Stock Injection plan that was put into the revised Bailout plan) have a blog and daily podcast called Planet Money.
Get your parachutes ready. Wall Street never reacts kindly to Mr. 25%.
WASHINGTON – President Bush is ready to make a statement to the nation about the crisis in the credit markets that has caused substantial sell-offs on Wall Street.
Bush a week ago signed a $700 billion bailout bill into law. In advance of what is expected to be reassuring words from the president, the Dow Jones industrials futures plunged 185 points ahead of the opening bell Friday.
White House press secretary Dana Perino said Thursday night that the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation all have the necessary tools to deal with the problem. Bush will deliver his remarks from the White House Rose Garden.
The Dow was down 1300 points at one point this morning.
If all will admit that all have an equal right to think, then
the question is forever solved; but as long as organized and
powerful churches, pretending to hold the keys of heaven and hell,
denounce every person as an outcast and criminal who thinks for
himself and denies their authority, the world will be filled with
hatred and suffering. To hate man and worship God seems to be the
sum of all the creeds.
Robert Green Ingersoll – “Some Mistakes of Moses” (1879)