Analysis: World Must Act If This Day From Hell Is Not to Be a Warm- Up for Much Worse
The Scotsman › September 30, 2008
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Summary
IN ONE stomach-churning second last night, the United States and the world were brought to a moment of truth on the deepening credit crisis: it's winning, we're not.
No sooner had the news broken that Congress had voted down the dollars 700 billion bail-out plan than the Dow Jones index plunged 777.68 points - the biggest intraday points drop ever. In Canada, shares slumped 6 per cent. In Brazil, 10 per cent.See the full content of this document
Extract
Analysis: World Must Act If This Day From Hell Is Not to Be a Warm- Up for Much Worse
Like an unfolding scene from a financial disaster movie, investors dumped bank shares and mutual funds and charged into short- dated Treasury bills.
No matter how low the yield or poor the return, here was a stampede to ...See the full content of this document
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