Wednesday, September 17, 2008
Financial Crisis in U.S.
If none of you have heard the news lately it is shocking. The stock market is plumeting! The company AIG fell over a record number of points in seven years. This was the worst day since the 9-11 attacks. Not only is AIG in a state of crisis, but also Wall Street as well. Today on Wednesday the 17th the DOW closed 450 point lower. Many large companies are going into a state of extreme turmoil! What is our country going to do? The government gave AIG an $85 billion loan to try and same them and the others in their company. Executives in AIG and Wall Street are worried that other companies might be heading down this same path. Why is this happening? Why now is the stock market going into this state? Many other large companies such as Merrill Lynch & Co have already sold their company to others outside of the U.S. or in before their profits or money was taken.
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1 comment:
It's scary to think about the affect this type of crisis has on the daily lives of the American people. I'm with you.. Why is this happening?
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