boom
Kerblooey! In addition to the rejected bailout, today also hosted the largest single day drop of the US stock market ever. As CNN notes, "$1.2 trillion in market value is gone after the House rejects the $700 billion bank bailout plan." You win some, you lose some. Things are also getting interesting in Europe, prompting this editorial in Le Monde:
| Comparant l'action des autorités américaines et européennes vis-à vis de la crise financière, Nicolas Sarkozy s'était interrogé, jeudi 25 septembre, à Toulon : "Si ce qui s'est passé aux Etats-Unis s'était passé en Europe, avec quelle rapidité, avec quelle force, avec quelle détermination l'Europe aurait-elle fait face à la crise ?" Moins de trois jours plus tard, la chute de la banque Fortis allait apporter un premier élément de réponse : en la matière, l'Europe bricole. | Comparing action by the U.S. and European authorities vis-à-vis the financial crisis, Nicolas Sarkozy was interviewed Thursday 25 September in Toulon: "If what happened in the United States happened in Europe , How fast, how strong, and with what determination would Europe have faced the crisis?" Less than three days later, the fall of Fortis Bank would provide the first part of the answer: in the main, Europe tinkers. |
Of course, to say the US has taken action is not precisely accurate. More accurately, the US has talked about taking action.
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