Dear Readers,
In september, you would see ups and downs and huge volatility in the market. Here it is:-
Since the federal government seized control of Fannie Mae and Freddie Mac on Sept. 8, a flurry of buyouts, bailouts and failures have turned the national economy upside down. Lehman Bros. is in Chapter 11. Merrill Lynch is taking Bank of America under its wing. Taxpayers now own insurance giant AIG. Morgan Stanley and Goldman Sachs have changed their business plans. Washington Mutual is now JPMorgan Chase & Co.,and Wachovia was snapped up by Citigroup. And during all this, Congress wrangled over a $700 billion bailout plan — and while it did the stock markets recorded some historic gains and loses.
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