Legal Commentary

Another Bad Day on Wall St as Recession Fears Grow

By Jeralyn

Stocks fell again today as recession fear set in.

The Dow Jones industrial average fell more than 700 points, giving back nearly all its record gain from Monday.

The Dow closed down 7.9 percent, or 733 points, at 8,578. That follows a loss of 77 points yesterday, which nearly wipes out Monday's 936-point gain. The Standard & Poor's 500-stock index was off 9 percent, with a 90-point decline, and the tech-heavy Nasdaq was down 8.5 percent, losing 151 points.

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More from CNN here.

McCain may be out of Hail Mary passes. His first, picking Sarah Palin, backfired with all but the Republican base, particularly independent voters and women who view her as supremely unqualified to be Vice President. His second, suspending his campaign to go to Washington and lead the way in crafting a bailout solution, was a joke.

What does he have left? Attacks on Obama's character and associations? Poll after poll show McCain and Palin's negative attacks have hurt, not helped his campaign.

McCain has an almost insurmountable problem. He took big, selfish risks, putting his own ambition ahead of what's best for our country. Unless he shows some true wisdom and leadership on the economy tonight, he probably is finished. As he should be.

Full post as published by TalkLeft on October 15, 2008 (boomark / email).