Thursday, October 23, 2008

Dow reverses gains due to congressional testimony

After being up almost 200 points when testimony began, the Dow Jones Industrial Average has now fallen almost 300 points as the congressional committee questioning of federal regulators continue.

If investors are like me, they're angered and depressed by the testimony of the elected officials who one lawmaker said let the ball roll through their legs like Red Sox first baseman Bill Buckner in the World Series of woe with the Mets

These guys are ridiculous, unrepentant and rationalizers of incompetency. And their supposed expertise has gone unchallenged -- until today.

But today is way too late for so many American people who could not afford to lose so much in their savings for college educations of their children and their own retirements.

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