White Civil Rights » Dow Drops another 508 Points, Signs of Panic

October 7, 2008

Dow Drops another 508 Points, Signs of Panic

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Civil Rights

— @ 6:07 am

Stock Market has lost more than 1,400 points in one week.

by Jeff Davis

A recent news article reports “Stocks tumbled again Tuesday, despite efforts by the Federal Reserve to keep credit flowing to businesses and word from Fed Chairman Ben Bernanke that the central bank could soon cut interest rates to re-energize the economy. The Dow Jones industrial average, down nearly 370 points Monday, sank another 508 points, or 5.1%, to 9447. It was the Dow’s fifth-consecutive drop, during which its slid more than 1,400 points, or 13%.”

Last week an unfortunate Brit threw himself under a train. Now the ongoing economic meltdown has inspired a murder-suicide in the US. According to Breitbart, “Six people were discovered dead on Monday at a house in a upmarket suburb in northern Los Angeles in what police described as a suspected murder-suicide. No further information about the dead and their manner of death was immediately released. The bodies were found at a home in a gated community at Porter Ranch in the San Fernando Valley, police said. …the Los Angeles Times cited an unnamed Los Angeles Police Department source as saying that a man suffering financial problems had shot his mother(-in-law), wife and three children before taking his own life. According to a real estate website, homes in the gated community where the bodies were found are valued at between 700,000 to 830,000 dollars.”

This guy was obviously faced with the horrifying prospect of leaving his ritzy gated community and being forced to live in a crummy apartment in a bad neighborhood, no doubt surrounded by gang members and having to work for a living –assuming the Mexicans haven’t taken all the manual jobs that White people are more than willing to do especially during a recession. He couldn’t take it, and so he flipped out and took his family with him. Considering the state of most American marriages and relationships, the wife was probably part of his problem with out of control spending and constant demands for more cash and more material goods. Whatever happened to “living within your means” and being prepared for a financial slow down? If he started off with a smaller house, which he could afford, and paid it off 100 percent; he would have been in a position to sit out a recession. Unfortunately it seems 70 to 80 percent of yuppies are living beyond their means. They exist from paycheck to paycheck with no backup plan if the economy melts down and they have mortgage payments to make for the next 20 years.

In another incident, Business Media reports that “Richard Fuld was attacked for his financial institution’s bankruptcy…While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy. ‘Frankly, I sat there and listened and I’m with the guy who apparently, the day before Barclays announced they were coming in and Lehman had already filed for bankruptcy, went over to him in the gym and punched him because that’s how I feel when I, you know, when I watched that,’ Ward said on the Oct. 6 Power Lunch. ‘I didn’t think he was contrite at all, I thought he was arrogant.’ ”

Fuld left Lehman Brothers in shambles and bankrupt, having walked away with something like $480 million dollars in bonuses during his time there. He was asked by the House, on nationwide TV, whether this was fair. Fuld simply ignored the question, and was allowed to do so by the obsequieous Congressmen.

Business Media goes on: “Ward confirmed previous reports about the incident that reportedly occurred Sept. 21 and said the information came from two very senior sources. ‘From two very senior sources – one incredibly senior source – that he went to the gym after … Lehman was announced as going under. He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold. And frankly after having watched this, I’d have done the same too.’ ….Ward determined Fuld deserved the beating based on his testimony before the committee. ‘I thought he was shameless,’ Ward said. ‘I thought it was appalling. He blamed everyone. He blamed, as you say, ‘naked short sellers’ over and over in case we didn’t get the point, when in fact hedge funds like Harbinger had money locked up in Lehman and was shorting it to try and make the most of the money that they already had. He blamed everybody but himself.’ ”

So we have the Stock Market falling like a meteor and people in the financial industry killing themselves and one killing his whole family. On top of this, a crooked CEO got knocked cold by an irate American. And this is just the beginning of the financial disaster. Whatever you do, don’t take any walks outside the high rise buildings in the financial districts. It could be raining stock brokers in the near future.

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October 7, 2008

Dow Drops another 508 Points, Signs of Panic

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