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Wall Street Sinks Further Into Bear Market

Gesund schnell abnehmen | Abnehmen leicht gemacht
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BusinessWall Street Sinks Further Into Bear MarketWall Street Sinks Further Into Bear MarketThe Associated PressWall Street sank further into a bear market Friday on troubles at mortgage companies Fannie Mae and Freddie Mac and oil's continuing climb into record territory. (July 11)Wall Street sank further into a bear market Friday on troubles at mortgage companies Fannie Mae and Freddie Mac and oil's climb into record territory. Investors were unimpressed by Treasury Secretary Henry Paulson's statement that the government's focus is ensuring that Fannie Mae and Freddie Mac keep operating in their current form. This countered reports that the government was contemplating plans to take over one or both of the companies. The day's trading moved Wall Street squarely into a bear market, which is defined as a 20 percent drop from a recent peak. At its low Friday, the Dow was down 22.5 percent from the record closing high of 14,165 it reached in October. Oil, meanwhile, extended its move into record territory, rising as high as $147.27 amid tensions between the West and Iran and the potential for attacks on Nigerian oil facilities. ___ ___, The Associated Press.(****END****)

Channel: News & Politics
Uploaded: July 11, 2008 at 8:19 pm
Author: AssociatedPress

Length: 00:59
Rating: 4.50
Views: 1412

Tags: bear  further  sinks  street  wall  

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RonPaul2008dotcomluv (July 13, 2008 at 2:36 am)
Former New York governor Eliot Spitzer was trying to stop predatory lending practices and was going to launch an investigation into to criminal complicity of George Bush for helping predatory lenders, so they had Spitzer politically assassinated. That is why the entire mainstream media empire ganged up one day and destroyed Spitzer's career over something that was none of anyone's business. This way they stopped Spitzer from bringing down the Wall Street crooks and Bush administration criminals
marcusgrimmm (July 13, 2008 at 2:11 am)
Its a combination of predatory lending and the American people trying to live beyond thier means.
DevoRizzle (July 12, 2008 at 5:52 am)
thats just an ignorant thing to say, that these homeowners are deadbeats. its not like people are skipping mortgage payments so they can go to the fucking strip club. Some people just can't make payments now, with the cost of living skyrocketing. Also, many homeowners are lead to believe that they have the financial capacity to purchase homes that are out of their reach. Its called predatory lending, and its a bigger problem than most people realize.
MobergNixon (July 12, 2008 at 12:01 am)
For once, I completely agree with you.
TECHKLEC (July 11, 2008 at 9:40 pm)
If the government takes the two companies over, then taxpayers will be footing the bill for deadbeat homeowners.

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