Monday, October 6, 2008
Just Another Manic Monday on Wall St.
And the hits just keep on comin'...the weekly sh*t-astic Monday financial news continues to suck as today stocks tumbled around the world, the Dow dropped below 10,000 for first time since 2004, the euro fell the most against the yen since its debut, oil dropped below $90 a barrel, and the US is still reeling from the news that the American economy lost 159,000 jobs in September, the worst month in five years. Oh yeah, and that Citi/Wachovia deal - fuhgetaboutit - Citigroup has sued Wells Fargo and its takeover target Wachovia for $60 billion (peanuts right?), citing "the unlawful conduct of Wachovia, Wells Fargo, and their officers and directors and outside advisers." So much for shoring up consumer confidence with the financial crisis...great timing boys.