Thursday, March 5, 2009

The Death of 'Blue Chip' Corporate America...Renaissance for America?

Little snippet on today's events:

U.S. Stocks: Fall to a 13 Year Low

March 5: Stocks tumbled, driving the S&P 500 to its lowest level since 1996 (down 4.3% to 683) and the DJIA fell by 4.1% to 6,594, after Moody’s said it may cut JPMorgan's credit rating and China quelled speculation the government will add to its stimulus plan. Wells Fargo and BofA slumped 12% after Moody’s said it’s reviewing their ratings while Citigroup slipped below $1 for the first time. GM sank 15% after its auditor said the automaker may not survive.

'Blue Chip' Corporate America DO NOT make America. The country will get along just fine when they are no longer bailed out.

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