‘Fear is running amok’

The Dow loses nearly 800 points:

“This is panic, and fear is running amok,” one trader told CNBC. “We are in a classic financial meltdown, and it’s panic-based. We’re seeing panic selling.”

Allah notes that today’s $1.1 trillion in losses exceeds the $700 pricetag of the bailout. Yeah, but at least people are losing their own money, rather than stealing it from the taxpayers.

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