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Bailouts, Politics, & Wall Street
While politicians played politics, markets moved. Money raced out of stocks ($800 billion in equity was wiped out on the S&P alone today) and commodities and into ’safety havens.’ Those havens were treasuries and gold…ironic if you think about it. In the mean time, the bailout stalled, as the last batch of conservatism has prevailed and looks to hold true until Thursday (The Jewish holiday Rosh Hashanah will prevent another vote until Thursday at the earliest).
At this point, I don’t mind going out on a limb to say this: members of Congress are terrified of how markets reacted to the…
30Sep2008 | Oxbury Research | Comments Off | Continued
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