It doesn’t appear that the stock market is set to rebound anytime soon. The Dow Jones is at a six-year low, and still dropping today. It’s understandable — none of the news has been good lately.
Today, there’s talk of the federal government getting even further in involved in saving Citigroup — upping its stake in the “private” bank to 25%.
I realize the banking industry needs a lifeline, but I’m still not convinced that infusing taxpayer money into institutions that can’t handle their own finances is the best way to do it. Companies that don’t do well fold, that’s just the way things go in a capitalistic society. I don’t see the U.S. government saving Circuit City, Fortunoff or the mom-and-pop stores in towns across America.
The country as a whole is unsettled, and so am I!