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14:35 ET Dow -156.27 at 9796.05, Nasdaq -41.59 at 1821.37, S&P -18.96 at 1037.93:

By Rob-33704 - Oct 7th, 2008 at 2:48 pm EDT

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.

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Royal Bank of Scotland Shares Decline Â£6 billion

By Rob-33704 - Oct 7th, 2008 at 10:16 am EDT

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.

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Bank of America cuts dividend by 50%

By Rob-33704 - Oct 7th, 2008 at 9:56 am EDT

Bank of America preannounces lower-than-expected earnings, plans to raise $10 billion in common stock offering, cuts dividend by 50%

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Keyser Soze Heists Main Street Out of $700 Billion

By Rob-33704 - Oct 6th, 2008 at 4:31 pm EDT

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."

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Wall Street hits 5-year lows

By Rob-33704 - Oct 6th, 2008 at 4:03 pm EDT

CNN reports:

NEW YORK (CNNMoney.com) -- Stocks skidded Monday - with the Dow, S&P 500 and Nasdaq falling to nearly five-year lows - as credit markets seized up and European governments' rush to prop up failing financial firms underscored the global reach of the credit crunch.

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Poll finds 6 of 10 believe a depression is somewhat or very likely - seeing 25% unemployed and millions homeless and hungry.

By Rob-33704 - Oct 6th, 2008 at 3:00 pm EDT

CNN Reports:

"The CNN/Opinion Research Corp. poll, which surveyed more than 1,000 Americans over the weekend, cited common measures of the economic pain of the 1930s:

25% unemployment rate
Widespread bank failures
Millions of Americans homeless and unable to feed their families
In response, 21% of those polled say that a depression is very likely and another 38% say it is somewhat likely."

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Federal Reserve doubles to $300 billion the amount it will loan banks. Loans could reach $900 billion by end of year.

By Rob-33704 - Oct 6th, 2008 at 2:53 pm EDT