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Economic Data: Week May 10, 2010

By Tony Stevenson/SWBC Mortgage

It’s all Greek to me!  That’s what investors first thought last week when the DOW plunged almost 1000 points and then regained traction.  What happens overseas, has its effects here  in the U.S.  The European financials are beginning  to shake in their own boots regarding current economic  conditions as concerns remain for Portugal, Spain, and Italy.  Now they are in the works with a Trillion dollar  bail-out for the European markets.  However, now we are being told the ‘1000’ point drop  was a kind of computer glitch or some sort of automated trading scenario that caused all the turmoil.  Already,  our  government is looking into regulatory actions and how this  problem could have been avoided.  The Senate is taking financial reform to the next level too this week even as Goldman Sachs seeks to improve its own reputation with a huge P.R. campaign.

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May 10, 2010 - Posted by | Uncategorized

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