Word: stockely
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...everything. It's the kind of news that's been known to cause shortness of breath, sudden cardiac arrest, revolvers pulled from bedside drawers. It harks back to December of 1929 and the image of bodies falling from buildings. But what can you do? (See the top 10 scared stock traders...
...vote of 52 to 35 (failing to meet the 60-vote threshold to cut off a filibuster). The last time Congress failed to pass a bailout plan that most had assumed was a done deal, the Dow Jones industrial average dropped 777 points in one afternoon. The stock market on Friday morning was down only modestly, however, most likely reflecting Wall Street's expectation that Bush will step in. (See the 50 worst cars of all time...
...being a pioneer in the business of market-making. His firm, which he started five decades ago with money he earned as a lifeguard in Far Rockaway, Queens, was for a long time primarily in the business of acting as a middle man between buyers and sellers of stocks. It is an essential function for a market like the Nasdaq, which doesn't have an actual trading floor where buyers and sellers can meet face-to-face. Madoff's firm was a major driver behind the growth of the Nasdaq, creating a system that courted brokers who had mostly traded...
...surface, Madoff's funds were supposed to be low-risk investments. His largest fund reported steady returns, usually gaining a percentage point or two a month. The funds' stated strategy was to buy large cap stocks and supplement those investments with related stock-option strategies. The combined investments were supposed to generate stable returns and also cap losses...
...free fall - growth, which has averaged 7% over the past five years, could drop below 2% in 2009, according to economists - and it's taking the rich down with it. Not that long ago, Russia was the poster child for unfettered wealth and freewheeling consumption. Now, with the stock market down more than 70% in the past year and the ruble feeling the strain, the nation's high earners are a little less quick to put their hands in their pockets...