Last week’s 18 percent stock market plunge was sparked by fear that the American economy is headed into a deep recession driven by a disastrous worldwide freeze-up of the credit system. Monday’s 11 percent rally reflected hope that the industrial…
No, but you . . . you . . . you’re thinking of this place all wrong — as if I had the money back in a safe. The money’s not here. Your money’s in Joe’s house, right next to…
Monday was one of the most wrenching days in the history of the American financial system. One blue-blooded investment bank, Lehman Brothers, sought shelter under Chapter 11 bankruptcy laws, while another, Merrill Lynch & Co., announced it had sold itself at…
