In an ironic display of symbolic prosperity, the New York Stock Exchange was lit up for Christmas last night. The festive atmosphere failed to rally the ailing market as the Dow continued to fall more than 200 points this morning.I'm all for Christmas celebrations, but this is kind of ridiculous. Hey guys, you've had the worst three months since 1929, so maybe show some constraint instead of lighting up the place like you've got all the money in the world.This guy knows what I'm talking about...Read Full Story
So, yes, things are certainly pretty scary out there vis-à-vis money and the ability of anyone to have it, but there has been an upside: a near-constant stream of very rich people looking like they are on the verge of tears. Above, Kenneth Lewis, the CEO of Bank of America, is addressing the credit crisis in Detroit, and looking like he's watching the part of Forrest Gump where Forrest is talking to Jenny's grave.This is Erwin Hubler, the former financial minister for the German state of...Read Full Story
Celester Whittaker lowers the advertised gas prices from $1.69 to $1.66 for regular unleaded November, 13, 2008 in Jennings, Missouri. The price of oil fallen close to 50 dollars before steadying in trading today as OPEC announced the possiblity of an emergency output meeting. (Photo by Whitney Curtis/Getty Images North America)Gas prices are falling harder than President Bush's motivation to go to work in the morning.It sucks for the oil companies (and for green energy activists actually...Read Full Story
A trader on the floor of the New York Stock Exchange (NYSE) reacts to the high closing number on the exchange October 28, 2008 in New York City. After a rally the Dow finished up over 800 points. (Photo by Spencer Platt/Getty Images North America) After weeks of seeing traders on the floor of the New York Stock Exchange totally freak out, it appears they're smiling again.What caused this sudden surge of happiness? It might be the fact that the Dow was up 889 points when the floor closed...Read Full Story
Traders work on the floor of the New York Stock Exchange moments after the opening bell October 13, 2008 in New York City. Following a rise in global markets, the Dow was up over 300 points in morning trading.(Photo by Spencer Platt/Getty Images North America) Coming on the heels of the worst week ever in the 112-year history of the Dow Industrial Average, markets surged today to close after the biggest single-day gains since 1933. Markets closed up 936.46 points (11%).From the Wall Street...Read Full Story
This zine contains articles pertaining to the collapse of several major financial institutions in 2008.