Dow plunges 512 points

[ebake02]

Brace youselves....



U.S. Stock Futures

Data as of 9:44pm ET

S&P -26.80 / -2.41% Level 1,084.50


Nasdaq -54.00 / -2.65% Level 1,984.00

Dow -276.00 / -2.57% Level 10,450.00

This frustrates me because I don't really see where a sell off of this magnitude is justified. If people would take a minute and calm the $#&^ down they would realize that this is nothing to sneeze about. After all, this is the same credit rating agency that gave Lehman Brothers an "A" rating right before they collapsed and endorsed Mortgage Backed Securities which we all know was one of the biggest causes of the collapse a few years ago.

[Saint John]

They say it generally takes about 2 years for a president's policies and vision to be realized. Enjoy!

[ebake02]

Thank god the legal profession is basically recession proof, the way things are now I should probably start looking a position with a bankruptcy law firm somewhere. Shouldn't have any trouble finding a job there when I graduate at the end of the year.

[Seven Wishes2]

They say it generally takes about 2 years for a president's policies and vision to be realized. Enjoy!

At least we'll all have social security benefits when we're all unemployed.

I guess this means it's fair game to lay the 2008 global financial meltdown at the hands of Bush, then, eh?

My industry is fucked if the economy tanks. I have to pull in about $30K a month in new sales to keep my staff paid and the studio running. The last time this happened, in 2007-2008, I was within about a week of having to close down.

[Memorex]

Thank god the legal profession is basically recession proof, the way things are now I should probably start looking a position with a bankruptcy law firm somewhere. Shouldn't have any trouble finding a job there when I graduate at the end of the year.

If things don't improve soon, make sure it's Chapter 7's and not 11's. 11's are where the good money normally is, but times are so bad that companies are just closing their doors because there is not all that free money out there to restructure. I work for a Claims Administration firm specializing in Restructurings. Our whole industry is laying people off, including last month and next month at our firm. Blows!

[ebake02]

Dow is up 177 points, lets hope this keeps going.