http://www.youtube.com/watch?v=WI0iIOqPGak
From Market Report:
Stocks recovers some losses, but still post a sharp decline. The Dow was down as much as 362 points, compared to its current decline of 156 points.
[BRIEFING.COM] Morgan Stanley (MS 17.91, -5.64) pares some losses on reports that the company said the investment it is receiving from Mitsubishi will close imminently, according to Reuters.
The Edinburgh-based bank had seen its share price plunge into double figures at one point this morning, before recovering to sit at 110.6p at 1.30pm.
It comes after 20 per cent, and more than £6 billion, was shaved off its share price yesterday in what was its biggest full-day decline in 20 years.
Bank of America preannounces lower-than-expected earnings, plans to raise $10 billion in common stock offering, cuts dividend by 50%
The Market Oracle says:
"The greatest heist in history took place on Friday when congress was CONNED into signing away $700 billion accompanied by SOME $120 billion of pork.
The Usual Suspects, Paulson, Bernanke and Cox (the Chair of SEC) over the last 10 days have proceeded to spin their verbal scare story to both the Democrats and Republicans into joining forces to hand over a ransom of $700 billion in the form of a blank check to the aid bankrupt banks to off load losses onto the US tax payer."