Deseret News | Stocks tumble as Street worries about financials

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Stocks tumble as Street worries about financials

Earl | 11:31 a.m. Oct. 7, 2008

Say what??? The Fed can somehow inject the market with "confidence"?? I can understand that if they mean this is a confidence-job on the American people, but there's no way this can provide the economy with confidence. The Fed is nothing more than a state-sanctioned counterfeiter, creating money out of thin air by edict. If that somehow makes you feel more confident, then you probably believe that magicians are not illusionists, too.

Personal Credit cards next | 1:27 p.m. Oct. 7, 2008

Soon we'll be able to go to the government and get personal credit cards...

A Real Risk | 4:13 p.m. Oct. 7, 2008

That banks like B of A collapse under the weight of their own liabilities and the ones they just added to their balance sheets. Bigger the collective bank--bigger the collective fall. Bigger the bailout...

Comments continue below

I think... | 4:25 p.m. Oct. 7, 2008

stocks fell by 500+. Your story is out of date.

Patience, not panic | 4:49 p.m. Oct. 7, 2008

I could be wrong, but I think the direction with the stock market right now is exactly the opposite of crude oil prices several weeks ago. Prices were way too high and had to come down -- which they have done.

Right now there is some uncertainty, even panic, but investors will realize the "correction" taking place is too much and stock prices will begin to rise.

MoJules | 5:35 p.m. Oct. 7, 2008

The Church News had an article about Helamen 13: 31, 33, 36, talking about how in the last day our riches will slip away from us. Yesterday I listened to Glenn Beck for a short moment, his guest and he were saying, buy non-perishables, they can be used for barter and face it, prices are and have climbed this last year. We have about $300.00 more that we want to get, then we feel we are in a good place, not the best, but we would manage for quite a while if stores were shut down, and we had that happen for over a week two years ago.

C.w. | 5:58 p.m. Oct. 7, 2008

Let's get those money presses rolling again, maybe if Bush tells us he needs another 2 trillion in worthless money to throw at it that will solve the problem.
The foreign markets have lost confidence in America, which is understandable since we HAVE lost confidence in both wall street and, after the bailout, our own politicians!
Maybe Congress will pass a law that says we all have to "put on our best smiley face" for the rest of the world so they'll have confidence in us.
After all, we all know if Congress says it, it must be real!
Where's a third party candidate that can get us out of this?

Simple Jack | 6:06 p.m. Oct. 7, 2008

The market is like a bouncy ball it goes down, it goes up......the key is to not pull out when it gets bad and not to get too over-confident when it gets good. This is investing 101 and too many people are flunking it right now

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Reader comments Stocks tumble as Street worries about financials

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Stocks tumble as Street worries about financials