Dow Shoots Out of the Gate
Okay, let's check here: Any other billionaires buying into the shaky financial sector, single-handedly propping up Wall Street for an entire trading day?
No? None so far?
Okay, well, then the markets appear to be up on their own this morning. So far, the Dow is up 100 points at the open. This, despite the Labor Department report this morning that jobless claims for the week ending Sept. 20 have hit a seven-year high, thanks to Hurricanes Gustav and Ike and the general economic malaise.
But Wall Street may be so focused on its pending bailout that nothing else may matter in today's trading.
Reports from the Hill are that the $700 billion bailout deal is all but wrapped up, even as President Bush has summoned congressional leaders to the White House today for a skull session photo-op and almost before Sen. John McCain (R-Ariz.) was able to pull the rip-cord on his campaign-suspending parachute into the financial crisis.
--Frank Ahrens
By
Frank Ahrens
|
September 25, 2008; 9:35 AM ET
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Posted by: tomhere | September 25, 1908 10:09 AM | Report abuse
Hmmm . . . the president and McCain are in a panic but Wall Street doesn't to be.
Posted by: sketchpada | September 25, 1908 10:49 AM | Report abuse
Does this mean that McCain can't take credit for saving America's financial crisis because he's in NYC for Clinton's hobknobbing meeting?
Nahhhh he'll still take the credit and when people raise their eyebrows he'll just repeat it until people believe it.
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Posted by: Mike | September 25, 1908 12:15 PM | Report abuse
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Oh Yeah! Panic by the RICH....
I MIGHT MISS A CHANCE TO GET MY SHARE OF THE PROFITS.
LET THE CHUMPS PAY THE BILL.
I'M GETTING MINE.
F*** THE LITTLE GUY.
SCREW THE WORKER ANT.