The Stock (and Housing?) Market’s Lost Decade. The ten year (annualized) rate of return for the S&P (without reinvested dividends) is -4.38%. Source: The S&P at Your Fingertips Bear Markets: we’ve been here before. . . (Below) dshort.com “Four Bad Bears.” A Sector Rotating Market . . . ( Below): If you had cash [...]
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It Was Ten Years Ago That Congress Made the Economic Meltdown Possible
Ten years ago, President Clinton signed into law the Financial Modernization Act, which repealed the depression era Glass-Steagall Act. Glass-Steagall separated insurance companies, investment firms and banking institutions. Very few in Congress saw the disastrous potential for systemic risk in its repeal. Senator Bryon Dorgan did. He stated on the senate floor: “We will look back in [...]