10.03.2008

The "Do SOMETHING to calm people down" argument has just failed

One of the biggest - if unspoken - reasons for proposing the bailout is that quickly doing something big will reassure investors and the public.

That argument has just failed (even with the PPT's best efforts).

Today, the stock market, Nasdaq, S&P, oil and gold all got hammered. Everything being down at the same time means that investors are panicking, and pulling money out of the markets.

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