Obama’s Bailout Plan Fails
Democratic presidential nominee Barack Obama said Sunday his Republican rival deserves no credit for helping to forge a tentative agreement on the $700 billion bailout of Wall Street.
“Now is not the time to fix the blame, Now is the time to fix the problem” – John McCain
Well, it would be prudent to remind the good people that in 2004, the Dems were claiming that there was no looming problem:
Before you consider taking a long walk off a short pier in response to this failed boondoggle, consider that the market has seen far worse times and has bounced back:
From September 2000 to January 2, 2001, the NASDAQ dropped 45.9%. In October 2002, the NASDAQ dropped to as low as 1,108.49 – a 78.4% decline from its all-time high of 5,132.52, the level it had established in March 2000.