Goldman Sachs and Morgan Stanley both posted positive earnings on Tuesday, but they both took huge hits on their stock prices yesterday in"the midst of a market controlled by fear and rumors".
During the "Great Depression" the financial institution lost the confidence of the consumer/saver/investor. Once the psychology of fear has gripped investors, then it's well you know. There doesn't seem to be a fundamental reason why a greater loss of confidence should be spreading through the market today.
Bush is the President (a good or bad president, it doesn't matter), he needs to SPEAK UP. He hasn't had a press conference since August. That's ridiculous. This is the biggest financial melt down since the "Great Depression".
Paulson and Bernanke are working their butts off. They are the true soldiers of this crisis. I doubt either of them ever anticipated what a major roll they are playing in saving the countries financial economy, when they signed on for the job.
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