The market is crashing, why hasn't the government stopped this?
 

I was under the impression that the government could control the economy and fix whatever is wrong with it by pressing the right buttons. I was assured that the 700 billion dollar button that just got pushed would do the trick.

I'm starting to think that our government can't actually manipulate everything. First we can't seem to get Islamic extremists to do what we want and now the market doesn't respond when we snap our mighty fingers.

Perplexing.

I was just thinking this afternoon how ironic it is that the great market crash did not come while waiting for the bailout vote, even with the House voting down the first proposal.

Then the bill passes, and the market crashes. Amusing.

This is all panic driven. Panic caused by the government tooting the "credit crisis" horn. I hadn't heard anything about a credit problem until the government stepped in. I'm not saying there wasn't a problem, but it seems their solution has caused a meltdown that may or may not have happened without their intervention.

President Bush ramped up the fear when he argued for the bailout. Many have been critical of him for it. It becomes a self-fulfilling prophecy.

The failure of a few multi-billion dollar firms might have played a tiny role too.

He is a smart bastard. There was a huge transfer of power to the government. He has done more for government power than any ruler since Hitler. Domestic spying, central police force, market control. He also got Congress on board. The man is a genius.

The next few months will be fun with conspiracy theorists. I predict the "Amero" crowd will be out in full force.

I think today was the 2nd largest percentage drop in history (although nowhere near first place).

Mmmm, not sure that's accurate. If memory serves, 1929 and 1987 both were roughly 20% in one day.

I don't now what the DJIA looks like, but here are the 10 worst days in terms of rate of return for the entire market (all U.S. equities as a value-weight portfolio) from 1926-2007:

That was a bad week, back in 29.