More Angst on Wall Street
The recent overseas stock sell-off inspired the White House and congress to start talking about manna from heaven, in the form of tax rebate checks. The same day, the Federal Reserve announced what can only be seen as a desperation measure–a one-day .75% interest rate cut on two key rates–has done little to reassure the traders on Wall Street. The market is starting to make some wild daily swings, mostly downward. This piece from The New York Times sums up the big picture nicely: Worries That the Good Times Were Mostly a Mirage. Meanwhile, we read: Plenty to chew on …