U.S. Markets Down Sharply Despite New Plan for Banks

The stock market plunged to a record low today, worse than it has been in 11 years. Te reason for this drastic drop is said to be the public's uncertainty of the new bank bailout plan. As we discussed briefly in class, it seems to me that one of the biggest issues with the bailout is the public's lack of understanding. It might help the market if people understood the difference between the bailout and the stimulus and the step-by-step plans for bank recovery.