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Posted inNews

On the brink

In the past few weeks, the nation has looked to Wall Street with shock, confusion and anger as the stock market and every other part of the U.S. economy seemed to do nothing but slip away.

When the Dow Jones dropped 777 points on Sept. 29, after a failed attempt by Congress to pass a Wall Street bailout plan, folks on Main Street took notice — in a big way. Even after President George W. Bush signed a more than $800 billion bailout plan, the Dow stumbled again — more than 600 points. In early October, for the first time since 2004, the Dow plummeted below 10,000 points — reaching an unheard of more than 5,000-point drop in only one year. At press time, the markets were still struggling from their dangerous Oct. 10 dip below 8,000 points.