As the stock market continues its dive toward oblivion, our Failure-in-Chief readied himself for a "recess" at the family compound in Maine.
NEW YORK (AP) -- Wall Street fell sharply again Thursday after a French bank said it was freezing three funds that invested in U.S. subprime mortgages because it was unable to properly value their assets. The Dow Jones industrials had been down more than 240 points, but pared their losses.
I just absolutely love how the American economy is going to hell in a hand basket under the leadership and tutelage of the Bush Abomination. Today the concern is about the impact of subprime loans.
The announcement by BNP Paribas raised the specter of a widening impact of U.S. credit market problems. The idea that anyone -- institutions, investors, companies, individuals -- can't get money when they need it unnerved a stock market that has suffered through weeks of volatility triggered by concerns about available credit and bad subprime mortgages
Next it will be China who owns 30 percent of the United States' foreign debt demanding that they receive the money they are owed, and now wont be soon enough. Then other parts of the wheel will start to come off but nobody will be able to blame Bill Clinton for this one. Nope. This economic fiasco was brought to us by the Failure-in-Chief. I just hope he gets arrested for catching too many striped bass when he's fishing with daddy this weekend.
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