Today's stock market has now completely eliminated yesterday's gains, as the collapse of the stock market has accelerated today within the past few minutes. Looking at this chart, I wonder if, following the announcement of Congress' heavy-handed regulation 30 minutes ago, has created this plunge in stocks. The collapse was almost instantaneous! This is what happens when a misguided Congress creates havoc with their well-intentioned, but grossly misguided attempts to manipulate the financial markets. It panics the markets!Wasn't it a similar onerous attitude when Congress passed the Community Reinvestment Act, compelling banks and other mortgage lenders to make liar loans to people who were incapable of repaying them, that created the financial meltdown in the first place? Why is it that they can't ever learn from the crises they create and the mistakes they have made?!
