• The Dow Jones Industrial is down 700+ points because the $700 Billion bailout did not pass. Taxpayers do not have to foot the bill directly in taxes but will pay for it by losses are evident in retirement plans across the world. MSN.
  • Those living in America aren’t the only ones affected. Banks across the world picked up subprime packages as they were inflating and the world will now start to feel the pinch as these banks scramble for cash. Heard of the term buy high, sell low (which is totally wrong). Finance lesson number one: buy low, sell high). Sigh. Yahoo Finance.
  • How the House voted to reject the $700 billion bailout. Politico.
  • Uh, if Sweden had a problem similar to the subprime crisis in America, why didn’t we learn from Sweden’s mistakes? At least provide the US with equity from the failing banks! NYT.
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