February 9, 2009
markets basically went nowhere today, as investors awaited
tomorrow's news on the stimulus legislation and the new bank bailout
to close at 1,592,
the Dow dropped
to end at 8,271,
and the S&P
to land at 870.
end the day at
There isn't much else to report. Paul Krugman has written his Monday
editorial, "The Destructive Center",
which decries the centrist compromises in the current Senate-endorsed
stimulus package, which leaves the fat and cuts out muscle, Permanent Link to Fat and muscle,
and comments on the incompetence of the package's accommodators, Permanent Link to Adjustments downward.
The winning economic forecasters for three of the past
four months warn that the U.S. economy needs urgent help.
Another forecaster predicts that 1,000
banks may fail by 2012..