S&P closes down 8.7% – A 106 point drop – the biggest one day drop since Black Monday 1987

NASDAQ closes down 9.1%-  biggest drop since the tech bubble burst in April of 2000

DOW drops 7%, largest % drop since 9/11LARGEST PERCENTAGE DROP SINCE 9/11. Biggest point drop ever of 778 points.

Crude oil drops 10% (more…)

I have two bank accounts, Wamu and Citi.

Last Thursday Wamu declared bankruptcy and its retail banking assets were sold off to JP Morgan Chase for 1.9 billion dollars. I did not rush to a Wamu branch to join the frenzied masses who were withdrawing every penny from their accounts, giving short comfort in being told that their money was FDIC insured.

Instead I logged onto wamu.com and read the message from Chase that everything was staying the same – for the next six months anyway….. (more…)

Countless healthcare sites and forums litter the internet landscape, yet few stand out and command your attention.

HealthCare.TV is one site however that is harnessing the power of the internet through the convergence of video and broadband speed over the net to allow visitors to not only read about diseases online but to watch videos of their disease online.

This was confirmed when I spoke with Craig Meichen, one of the partners of HealthCare.TV.

“Its why we went with the .TV extension. We want our viewers to know we are a video orientated site. We have one of the largest collections of children’s health videos containing content from the very best Paediatricians we could find. And we are not stopping. We will be adding an additional 200 videos in the coming weeks.” (more…)

This headline coming from Christopher Leake in an article for THE MAIL ONLINE, goes on to say that “the City (London)  was in shock last night after the apparent suicide of a millionaire financier haunted by the pressures of dealing with the credit crunch.”

 I urge my readers to read my article Slaughter on Wall Street. I predicted that this sad state of affairs will start to occur as more and more execs get caught up in the tsunami of the credit crunch.

I feel really awful for this man’s family, as I do for all those who have lost their entire life savings  due to the crisis – which is not over, 700 billion bail out or not.

Yes, smiling senators inform the world that they have come up with the largest bailout plan in living history to buy up “toxic” mortgage backed securities and “hopefully” save a Wall Street collapse and the ensuing carnage that would result on Main Street.

But lets be clear, from the miserable brokers who pressure sold no doc loans, to the reckless homebuyers who bought homes they could ill afford, to the investment banks that bought this bad debt knowingly and sold it on to other banks – all made up the basic ingredients of this unfolding crisis……

So no wonder most tax payers are outraged at this bail out. THIS SHOULD NEVER HAVE HAPPENED…… (more…)