- Today's market sell off brought to you by "uncertainty," according to Yahoo Finance. That and the back-and-forth over the Big 3 bailout. Will it happen? Won't it happen? Turn in tomorrow for another episode of "As the Automakers Turn."
- That and the impact of the Madoff scam. In a Connecticut town, local officials scrambled to get a handle on damage to pension funds held for its police officers and firefighters. A Massachusetts charity announced it was shutting down. In New York, a distinguished economist feared he had lost his $2.2 million nest egg.
- And to think, I was watching Boiler Room tonight! (That picture is of Nia Long).
- The Madoff Scheme from the NY Times.
- Jewish philanthropies shut down over Madoff's scam. The Chais Family Foundation, a California-based charity that distributed about $12.5 million annually, was forced to shut down after investing — and losing — all of its money with the one-time wizard of Wall Street.
- Madoff ensnares victims from Paris to Tokyo.
- The Fed to cut rates tomorrow?
- Speaking of, have you seen the home loan rates? Very low. Rates are getting to the point where people might consider refinancing and locking in lower rates. That could provide economic stimulus.
- Combined with lower fuel costs.
- Although the fuel costs? Won't be low for long. Remember that as the government seems to have taken their eyes off the real emergency. We need nuclear power. We need to convert some percentage of cars over to natural gas. We need to control our energy future.
