Stock hit 12-year low

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	Stock hit 12-year low

jcolier

3-2-2009 12:46 PM

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jcolier says:

Is the government REALLY helping with the stock market? Doesn't see like it.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cb099950-a1f3-45de-9691-b722dae9a4a6/D4B32C7E-2FBF-4E15-B836-5914803EE436/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://money.cnn.com/2009/03/02/markets/markets_newyork/?postversion=2009030210" href="http://money.cnn.com/2009/03/02/markets/markets_newyork/?postversion=2009030210" style="font-size: 11px;">money.cnn.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2009/03/02/markets/markets_newyork/?postversion=2009030210"><P>The Dow Jones industrial average (<A href="http://money.cnn.com/quote/quote.html?symb=INDU&source=story_quote_link">INDU</A>) lost 205 points, or 2.9%, over two hours into the session. The Dow had dropped as low as 6842.54, its lowest trading level since April 29, 1997. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2009/03/02/markets/markets_newyork/?postversion=2009030210"><P>AIG reported a $62 billion fourth-quarter loss, the largest in U.S. corporate history, on turmoil in the credit markets and massive restructuring costs. For the full year, AIG lost $99 billion after reporting a profit of $9.3 billion in 2007.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2009/03/02/markets/markets_newyork/?postversion=2009030210"><P>To keep the company from collapsing and infecting the broader financial market, the government is revising its bailout for the third time and committing another $30 billion in exchange for cumulative preferred stock. The rescue plan now totals $162.5 billion. (<A href="http://money.cnn.com/2009/03/02/news/companies/aig/index.htm?postversion=2009030209">Full story</A>)</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2009/03/02/markets/markets_newyork/?postversion=2009030210"><P>Stocks tumbled Friday after the government said it will control as much as 36% of Citigroup's <A href="http://money.cnn.com/2009/02/27/news/companies/citigroup/index.htm?postversion=2009022717">common stock</A>. Also in play: a report showing the <A href="http://money.cnn.com/2009/02/27/news/economy/GDP_4Q08_preliminary/index.htm?postversion=2009022710">economy</A> shrank at its sharpest pace in 26 years in the fourth quarter of 2008.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D4B32C7E-2FBF-4E15-B836-5914803EE436/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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