Moderators John317 Posted September 17, 2008 Moderators Posted September 17, 2008 Stocks sink after government bailout of AIG By TIM PARADIS, AP Business Writer 12 minutes ago NEW YORK - Wall Street stumbled again Wednesday, with anxieties about the financial system still running high after the government bailed out insurer American International Group Inc. The Dow Jones industrial average dropped about 280 points. The Federal Reserve is giving a two-year, $85 billion loan to AIG in exchange for a nearly 80 percent stake in the company after it lost billions in the risky business of insuring against bond defaults. Wall Street had feared that the conglomerate, which has its tentacles in various financial services industries around the world, would follow the investment bank Lehman Brothers Holdings Inc. into bankruptcy. The ramifications of the world's largest insurer going under likely would have far surpassed the demise of Lehman. "People are scared to death," said Bill Stone, chief investment strategist for PNC Wealth Management. "Who would have imagined that AIG would have gotten into this position?"............ Quote John 3:16-17 For God so loved the world, that he gave his only Son, that whoever believes in him should not perish but have eternal life. [17] For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him.
Stan Posted September 17, 2008 Posted September 17, 2008 Should have a contest to guess the date the the DOW will surpass what it was a week ago... Quote If you receive benefit to being here please help out with expenses. https://www.paypal.me/clubadventist Administrator of a few websites like https://adventistdating.com
Amelia Posted September 18, 2008 Posted September 18, 2008 Late breaking news. Wa-Mu (Washington Mutual) has been put up for sale. News at 11pm. Quote <p><span style="color:#0000FF;"><span style="font-weight:bold;"><span style="font-style:italic;">"Do not use harmful words, but only helpful words, the kind that build up and provide what is needed, so that what you say will do good to those who hear you."</span></span> Eph 4:29</span><br><br><img src="http://banners.wunderground.com/weathersticker/gizmotimetemp_both/US/OR/Fairview.gif" alt="Fairview.gif"> Fairview Or</p>
Amelia Posted September 18, 2008 Posted September 18, 2008 Where the wealthy are moving their money for safety? Reported on tonights national news, it is gold and treasury bonds. Quote <p><span style="color:#0000FF;"><span style="font-weight:bold;"><span style="font-style:italic;">"Do not use harmful words, but only helpful words, the kind that build up and provide what is needed, so that what you say will do good to those who hear you."</span></span> Eph 4:29</span><br><br><img src="http://banners.wunderground.com/weathersticker/gizmotimetemp_both/US/OR/Fairview.gif" alt="Fairview.gif"> Fairview Or</p>
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