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Nevil Gibson | Friday May 22 2009 - 06:49am
The prospect of a downgrade in the UK government's credit rating and mixed signals on the state of the US economy sent stocks on Wall Street for a third day.
The Dow Jones Industrial Average declined 129.91 points, or 1.5%, to close at 8292.13, and the S&P 500-stock index slid 15.14, or 1.7%, to 888.33.
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"While it may not seem like it, these banks on Wall Street are closely connected to these houses on Main Street", let's see how...
Wall Street fell in early trading Tuesday on concerns that swine flu will dampen a global economic recovery and that some banks may need to raise more capital.
In the ‘90s I wrote a lot about branding and how corporations were tapping into the deeply human need to be part of something bigger than just consumerism. “We’re not just selling sneakers. We’re not just selling laptops. We’re selling transcendence and a connection and community.” That trend actually made me feel hopeful that, actually, we don’t just want things, and all of this expensive market research was telling Microsoft and Starbucks and Nike that what we actually want is to be part of something larger.
Grigg made phony claims that investors' money was being put into "TARP-guaranteed debt" with a 12.5% return.
"There is no such thing as TARP-guaranteed debt," a Treasury Department spokeswoman said Tuesday.
The SEC sued Grigg in late January, claiming that his financial advisory and "life coaching" company, ProTrust Management Inc., defrauded at least 27 clients out of millions of dollars."
Someone got a bargain with Bernard Madoff's Mets season tickets.
The two seats in the Delta Club Gold section behind home plate auctioned for $38,100 Tuesday on eBay, well below the list price for the pair of about $56,000.
