Tuesday, March 24, 2009

Investors Took Profits, Wall Street Slipped (March 24th, 2009)

Wall Street declined as the investors took their profits. They took the profit after the U.S. indexes rose about 7 percent.

Meanwhile, the Congress gived power to Geithner to control big financial institutions, such as AIG, whose failure would endanger the U.S. financial system. Ben Bernanke also said that he wanted to sue AIG to stop giving millions in bonuses. Now, fifteen from twenty executives of AIG have agreed to give back their bonuses. The bonuses are worth $ 50 million.

All the steps that U.S government and The Fed took were aimed to prevent a further fall in the economy. In addition, this step were also taken to improve the U.S. financial system.

Let's wait and see what will be happen next and stay alert. Good luck!


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