In a general down day in the market today, more news continued to roll in after hours, which portends for more gloom in the markets in the days to come:
- In market news today, the bid to save ailing automakers failed in the Senate where a major point of contention was Union wages. Republicans sought to force parity wages with other non-union companies and that didn’t fly in Detroit.
- Allegedly, a giant Ponzi scheme to the tune of $50 Billion was unearthed by authorities which was headed by the former Nasdaq chairman.
- The layoffs continue to stack up this week. Bank of America announced another 35,000 layoffs.
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