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Wall St closes out worst year since Depression
Chuck Mikolajczak and Chris Sanders
Reuters
January 1, 2009
Wall Street closed out its worst year since the Great Depression on Wednesday after an unstoppable credit crisis and a dreadful economic outlook left investors questioning their faith in stock markets.
A string of financial disasters culminating in the collapse of Lehman Brothers in the middle of the night in September precipitated the third biggest percentage loss ever for the Dow industrials and the broad S&P 500.
By November 20, the S&P had hit an 11-year low, destroying more than a decade of returns for many Americans and wiping out memories of record highs reached just 13 months earlier.
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“It was plain ugly out there,” said Kurt Brunner, a portfolio manager with Swarthmore Group in Philadelphia.
“All in all, it’s something that I truly hope is once-in-a lifetime thing.”
Nonetheless, U.S. stocks managed to close the year on an up note on Wednesday as fresh efforts to stem the recession from Washington lifted equities for the second consecutive session.
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12 Responses to “Wall St closes out worst year since Depression”
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January 1st, 2009 at 8:00 am
2008 was just a warm-up for whats coming.
Peter Schiff prediction: Dow = 1 oz gold.
January 1st, 2009 at 12:21 pm
Thank your local zionist criminal.
January 1st, 2009 at 2:03 pm
For the millions of folks who are near to or in foreclosure see: First National Bank of Montgomery vs Jerome Daly
Consider a class action suit….
http://video.google.com/videop.....7695921912
January 1st, 2009 at 3:41 pm
The whole thing is just one big ponzi scheme anyway. Run by criminals for criminals.
January 1st, 2009 at 6:45 pm
Timing is everything. If this hadn’t started in October but more like in March or June, it would have been THE WORST EVER. They timed it perfectly, only to be saved by a new year so it won’t go down as the worst year ever.
It will continue…and the year went from October to October, it WOULD be considered the worst year ever.
January 1st, 2009 at 8:02 pm
In this particular area, the SUVs are still flying down the road and the McMansions (country French) are going up with no stopping. Sometimes with 5 car garrages. Hummers are every where with happy hunters in camo killing deer gear and hauling $10,000 all terrain vehicles. Surly these are not the SONS OF BITCHES living beyond their means are they? These are just Sunday Christians and sycophants enjoying their due rewards. Happy, happy, joy, joy!!!
MY GOD!!!
L E V I A T H A N
January 1st, 2009 at 9:56 pm
This is just the beginning. The Nazi Bush regime will soon be out and the Nazi Obama regime will soon be in. How comforting. Is something cooking?
January 1st, 2009 at 10:39 pm
Everyone just stay calm, shut up, and take some aspartame.
http://www.youtube.com/watch?v=OHD9Xqru3NY
January 2nd, 2009 at 12:29 am
buy honey, only food in the world that doesn’t expire
January 2nd, 2009 at 12:30 am
buy honey, only food that doesn’t expire
January 2nd, 2009 at 5:03 am
FCUK BOY BUSH, O”BAAAA”MA BIN LADEN & THOSE NEO-SCUM BLOOD-SUCKERZ !!!
POWER 2 THE PEOPLE, BY THE PEOPLE, 4 THE PEOPLE
LET THE REVOLUTION BEGIN …………………………………… ALEX JONES 4 PRESIDENT
January 2nd, 2009 at 10:37 pm
Or as otherwise stated in plain language: U. S. Closes Out First Year of the New Depression.