Stock Market Closes Below Monday Low: Come On Let's Have Some Hysteria!

October 03, 2008

Dean Baker
TPMCafé (Talking Points Memo), October 3, 2008

See article on original website

Okay, let’s hear from all those media commentators and politicians who screamed about the stock market plunge on Monday in response to Congress’ rejection of the bailout. With the market closing lower today than it did on Monday should we assume that the bailout didn’t work?

Should we be screaming about the hundreds of billions of dollars lost in retirement accounts and pensions? Or was that just something they talked about when they were pushing for a Wall Street bailout?


Dean Baker is the co-director of the Center for Economic and Policy Research (CEPR). He is the author of The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer. He also has a blog on the American Prospect, “Beat the Press,” where he discusses the media’s coverage of economic issues.

Support Cepr

APOYAR A CEPR

If you value CEPR's work, support us by making a financial contribution.

Si valora el trabajo de CEPR, apóyenos haciendo una contribución financiera.

Donate Apóyanos

Keep up with our latest news