I do not think I am far off in the above heading after reading what has been happening in the U.S. financial sector over the last few days.....time to start putting our money in our mattresses like our grandparents did way back in the 20s and 30s.
And now today another massive drop on Wall Street:
The stock market took another nosedive Wednesday as the American banking system appeared even shakier and investors worried that the financial crisis is spinning so far out of control that even government rescues can't stop it.
The Dow Jones industrial average, which only two days earlier had suffered its steepest drop since the days after the Sept. 11 attacks, lost another 450 points. About $700 billion in investments vanished.
One day after the Federal Reserve stepped in with an emergency loan to keep American International Group Inc., one of the world's largest insurers, from going under, Wall Street wondered which companies might be the next to falter.....
And in case anyone needed additional symbolism, a glass panel near the top of a Bank of America skyscraper in Midtown Manhattan fell more than 50 stories onto the street below and shattered. No injuries were reported.....
Click on the link below to go to the web to read the rest of the story:
JS Online: Associated Press News
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