> DemocRAT Scoundrels Force US Stocks Plummet!

http://www.foxnews.com/story/0,2933,430061,00.html

U.S. Stocks Plummet as House Rejects Bailout Plan
Monday, September 29, 2008

NEW YORK ? Fear swept across the financial markets Monday, sending
the Dow Jones industrials down as much as 705 points, after the
financial bailout package failed the House.

As the vote was shown on TV, stocks plunged and and investors fled to
the safety of the credit markets, worrying that the financial system
would keep sinking under the weight of failed mortgage debt.

"Clearly something needs to be done, and the market dropping 400
points in 10 minutes is telling you that," said Chris Johnson
president of Johnson Research Group. "This isn't a market for the
timid."

While investors had some worries that the vote would be close, many
investors appeared to believe it would ultimately pass.

The markets were highly volatile, with the Dow regaining ground then
falling backing again, trading down 577.37, or 5.18 percent, to
10,565.76.

Broader stock indicators also tumbled. The Standard & Poor's 500 index
declined 79.35, or 6.54 percent, to 1,133.92, and the Nasdaq composite
index fell 146.72, or 6.72 percent, to 2,036.62.

The Federal Reserve declined to comment on the market's decline.

With Wall Street in turmoil, the yield on the 3-month Treasury bill
fell to 0.32 percent from 0.87 percent on Friday. That showed that
investors were prepared to get meager returns on an investment as long
as it was secure.

Marc Pado, U.S. market strategist at Cantor Fitzgerald, said investors
are worried about the spread of troubles beyond banks in the U.S. to
Europe and other markets.

"Things are dying and breaking apart while they sit there and vote on
this thing," he said.

.

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