Wednesday, September 17, 2008
Wow, what a week so far for financial news
It has been an interesting week thus far for financial news. First we had the Lehman Bros. thing. Then yesterday morning I saw the headline that the Fed might cut rates again. I rejoiced at that due to my credit card debt but I cringed when I thought of my poor little ING savings. Then I saw the headline that the Fed had pumped $70 BILLION into the nation's financial system. Yikes!! No, seriously, yikes! Then the news was of the worst day in Wall Street since 2001. I didn't dare look at my IRA accounts. I shudder to think of what happened to them. But then the stocks ended high due to the Fed NOT cutting the rate. Wow. Oh and then last night I read that AIG was getting pumped with cash by the government too. And all of this had happened by Tuesday! What scary financial times we are in.