How about closing the Stock Exchanges?

Bush, FEARAt this point, why not?  Bush told us we should "have confidence in the future of the markets and the economy", yet the Dow touched 7,882 before coming back to 8,222.  Another 300+ day loss, this shit has got to stop. Buy the Banks and close the exchanges if necessary.

Feel like being more depressed? Just turn on CNBC, they'll pound your face with bad news and make you more scared.

Here, another negative article enjoy:

U.S. stocks on Friday tallied losses for an eighth consecutive day but stepped back from a plunge at the open that had the Dow Jones Industrial Average under 8,000 for the first time in more than five years, as fears escalated that the trauma in the credit markets could be paving the way toward a global recession.

"A psychiatrist is what is needed to help investors today," said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co.

In the first minutes, the Dow industrials first plunged nearly 700 points to trade below the 8,000 mark for the first time since April 1, 2003, but bounced back, briefly rallying into positive territory only to dip again before an hour of trading had passed.

The Dow was recently off 254.72 points at 8,324.47, with 25 of its 30 components trading lower. Shares of oil giant Exxon Mobil Corp. (XOM) paced the blue-chip decliners, down 10.1%.

Bank of America Corp. (BAC) gained the most on the Dow, its stock rising 6.2%.

Another blue chip, General Electric Co. (GE), gained 0.8% after reporting a third-quarter profit that met Street expectations, and said it was on pace to meet its recently revised projections for 2008. .

The S&P 500 fell 26.76 points to 882.16, with energy, utilities and telecommunication services fronting sector losses that stretched across nine of the index's 10 industry groups.

Financials ranked as the sole advancing sector within the S&P at late morning.

Standout gainers in the battered financial sector included XL Capital Ltd. ( XL), up 38.7%, and Wachovia Corp. (WB), ahead 33.4%.

Noteworthy decliners included Morgan Stanley (MS), recently off 26.1%, and American International Group Inc. (AIG), down 14.2%.

The Nasdaq Composite (RIXF) shed 32.18 points to 1,612.94.

Volume on the New York Stock Exchange neared 753 million, with six stocks falling for every one on the rise. On the Nasdaq, 537 million shares changed hands, and decliners outran advancers 3 to 1.

"The extended credit crisis is starting to surface with major companies," said Marc Pado Pado, U.S. market strategist at Cantor Fitzgerald, pointing to General Motors Corp. (GE)

"The company's bonds are already junk. This would pretty much eliminate the company's borrowing options, which could bankrupt the company without government intervention," said Pado.

Shares of GM, a Dow component, rose 4.6% on Friday after falling to below $5 a share the prior session for the first time in 58 years, with Standard & Poor's putting the automaker's debt on negative credit watch late Thursday.

"We can talk about the credit crisis or the economy moving into a global recession, but there has been forced selling into an otherwise completely illiquid market," said Pado.

Central banks around the globe this week axed interest rates in a synchronized effort to thaw frozen credit markets.

SOURCE: http://money.cnn.com/news/newsfeeds/articles/djf500/200810101114DOWJONESDJONLINE000649_FORTUNE5.htm



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