Donald Trump was interviewed by Neil Cavuto on Fox regarding the bailout failure and subsequent dump in the Dow, and he said there is a silver lining. Oil will drop like a rock - maybe down to $20 or $25 a barrel depending on how deep the ensuing crisis goes.
I guess that's one way to look at it, and frankly, nobody will feel too bad if the sheiks get their rear-ends handed to them.
The Dow ended up losing over 777 points, the largest single day point loss, but only about 6% of the total value. The worst drop in history was around 25%, so this loss today is not as bad as it could have been.
Monday, September 29, 2008
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