Markets still throwing a tantrum
Just like a tennager who doesnt get his/her way and starts throwing tantrum - the stock markets fell 777 points the day the bill failed in Congress. Most of media said it was indication that market needed the bailout bill and how important it is for the economy or what would happen. Some others have compared this to a person pointing a gun to its head and saying if you dont do it then I will kill myself.
Now the bill was passed under pressure for the markets and the media. Whats the result?. The teenager is still not happy with what it got and wants to throw more tantrum. The markets fell 159 points after the bill was passed .... ya after it was PASSED. So will Congress to calm the teenager put in more money and meet the markets new demands. The market want accounting rules changed, tax benefits and much more till Congress is ready to satisfy it.
A sad day ....
1 comment:
Not sure what it is .. real market panic or increased moral hazard?
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