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The Dow Jones Industrial Average got smacked down with a 777-point shellacking
Yesterday, U.S. markets were rocked by the news that the U.S. House of Representatives rejected the widely anticipated $700 billion "bailout" package for U.S. banks. Wall Street responded by hurtling the Dow Jones Industrials down nearly 7% -- more than the day after September 11, 2001.
All of this talk about the next "Great Depression," if we don’t act right now, likely will have a self-fulfilling prophecy effect if, in fact, Congress doesn’t act now to approve the plan to assume all that bad mortgage -- and possibly other -- debt.
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