I know this is a family blog..... but as the blogger, I reserve the right to post about current events..... So.....
The
New York Times has a nice interactive chart that shows the losses of the market over the last 12 months.....
Basically it shows $4 trillion drop of the total market cap of the U.S. stock market since last October. $1 trillion is from the decline in the financial sector alone.
Each box in the graphic is proportional to the size of the market capitalization of the biggest financial firms then and now. As you mouse over the squares, you can see how much each value each company lost between October 9, 2007 and September 12, 2008. Here are some of the individual losses by market cap:
Citigroup: $236.7 billion to $97.8 billion.
Bank of America: $236.5 billion to $150.2 billion.
AIG: $179.8 billion to $32.3 billion
Goldman Sachs: $97.7 billion to $61.3 billion
American Express: $74.8 billion to $45 billion.
Morgan Stanley: $73.1 billion to $41.1 billion.
Fannie Mae: $64.8 billion to $700 million.
Merrill Lynch: $63.9 billion to $24.2 billion
Freddie Mac: $41.5 billion to $300 million.
Lehman Brothers: $34.4 billion to $2.5 billion.
Washington Mutual: $31.1 billion to $2.9 billion
Kinda crazy when you look at it all together..... of course I have my thought about the whole market and if I could quote "Its always the "unseen" forces that shape future events and then many stories are planted to hide truth...."
Just my opinion but we will see the DOW below 9000 before this is over. And when you figure in the weak(and getting weaker) dollar...... this won't be fun.