WDYT: The Financial Crisis

As I write this now, the Dow Jones Industrial Average is already down 300 points and the Nasdaq Composite is falling 60 points just minutes after the Opening Bell. What’s rocking Wall Street is the total financial meltdown. Lehman Brothers, one of the oldest & (once) strongest institutional investment banks on Wall Street, is filing for bankruptcy. Merrill Lynch, once one of the largest investment firms, was forced into selling itself to Bank of America. AIG, one of the nation’s largest financial firms, is scrambling to restructure before it faces a fate similar to Lehman’s. Because all these three firms invested in risky home mortgages, they’re all losing their shirts… And Wall Street is now in a PANIC and we on Main Street are wondering how we’ll be affected.

How will the market turmoil affect the world’s confidence in the US economy? What can our government do to reassure the American people? Is our money safe in our investments… And even our bank accounts?

Stay tuned here at TheLiberalOC.com while we monitor the markets. How will we survive the turbulence? How will this nation’s economy go on as the mortgage mess is now causing real pain on Wall Street? Hopefully today, we’ll find some answers.

In the mean time, feel free to talk to us about what you’re concerned about with your investments, your money, and your economy.