I read the news today - oh boy (Thursday edition, pt. 2)
Today's news blurb from the New York Times is even more dire in tone:
Stocks Slump as Investors Run to Safety
By VIKAS BAJAJ
The financial crisis entered a potentially dangerous new phase as investors worldwide frantically moved their money into the safest investments, like Treasury bills.
As Fears Grow, Wall St. Titans See Shares Fall
By BEN WHITE and ERIC DASH
Morgan Stanley and Goldman Sachs were considered to be in a separate class from weaker banks like Bear Stearns and Lehman Brothers that saw themselves evaporate.
Words and phrases we don't normally see associated with Wall Street: 'run to safety,' frantically,' 'dangerous,' 'fears,' 'weaker banks,' and 'evaporate.'
It's going to be another bad day in the office for our nation's movers, shakers and brokers.
Labels: economy, financial crash, financial crisis, Wall Street
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