##Introduction to an Informative and Factual Blog Post titled "The Market's Worst Day Ever" The market's worst day ever. Black Friday, September 24th, 2008. The Dow Jones Industrial Average plunged 777 points after the U.S. House of Representatives rejected George W Bush’s proposal for a bank bailout (TARP). It was the largest intra-day point swing in history, until October 19th of that same year when it plunged another 777 points after Chairman Ben Bernanke announced the government would buy toxic assets held by banks (or bail out). We all know what happened next. In less than a month from those two days, the market was down over 14%. The S&P 500 had its worst ever beginning of a year: down over 22%, and the Nasdaq had its worst ever: down 46%. The post-mortem analysis and hindsight is that we should have seen it coming, but we were duped; we only knew the tip of the iceberg. Here I present to you some clear facts and data to show you how bad it could have been, given the underlying fundamentals. The market bottomed out in March 2009, exactly at 666 (I kid you not). It has since recovered. But, the market's worst day ever was on September 24th, 2008 using some outstanding data from Marketwatch.com. This data is so staggering that even Warren Buffet couldn't possibly know what it says. There are 7-Elevens selling soup out of the back door to save space. The books are wrong. Everything is wrong. We've seen the headlines about the market imploding, because of subprime loans, which led to many banks going bankrupt, which led to failure of insurance companies. We've seen people lined up outside of the banks for hours on end trying to withdraw their savings. But now here's the real story-from whence it came and how bad it could have gotten-if we had not intervened. People are losing their homes, but now here's the real reason why people lose their homes: they can't pay their mortgages because they can't sell their houses at any price. The collapse was catastrophic and seemed to come out of nowhere-and much like a tsunami. First, we will take a look at the charts. A lot of data and information is available on the web and in books and magazines and newspapers and journals. Take a look at some historical data. I am going to show you some graphs with today's data overlaid with historical data. The results will speak for themselves. data from: Google, Yahoo Finance, Marketwatch.com, CNNMoney.com data from: Google Finance
data from: Google Finance, Yahoo Finance data from: Google Finance data from: Google Finance data from: CNN Money, AmericanBanker.
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