Hemorraging Wealth

Whooo-Boy! A lot of people sure got a little less wealthy today!

At this point: (Shares slump as rescue bid fails) (BBC)
Dow down 6%
Nasdaq down 7.8%
FTSE (London) 6.3%
Dax (Frankfurt) 4.2% etc. etc.

Well, lets just say that all of the markets in the world that weren't snug in their beds when our congress grew a pair and decided against giving $700 BILLION dollars to the very people that helped to bring our financial system to its knees went into free fall.

I'm torn. I'm happy to see our congress actually stop to think about what they are doing before throwing shit-tons of our money into a bottomless pit (Despite the leaderships best efforts to prevent independent thought). However, its only a matter of days before enough people cave to the whims of their party and they begin their attempts to bulldoze cash into that pit.

P.S. Even Iceland (Times UK) is nationalizing its banks!