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NEW YORK (CNNMoney.com) -- The global financial crisis escalated on Wednesday as stock markets plummeted worldwide and officials raced to put out the fires.
Investors in Japan suffered one of their worst days ever. A Russian exchange was shut down after a huge decline at the open. And a trio of European central banks announced that it was pumping more money into the system to keep banks going.
The most dramatic move was in the U.K., where the Treasury announced a plan to inject hundreds of billions of dollars into the banking system.
Originally posted by 1011010110
I'm so glad Congress passed the bail out.
Originally posted by dingleberry77
reply to post by Mainer
I was going to ask someone when do you think Americans will take out their 401k. Do you think that time is soon. That's a huge chunk of your market, isn't it?
Originally posted by alphabetaone
reply to post by mr-lizard
Taking your money out of the bank won't help really. Unless you suspect that you wont be ABLE to get it out. If that's the case then certainly.
However, if you don't suspect that you WONT have access to it, then leave it in there. The banks have it insured in case of failure.
The National Bank of Sealy-Posturpedic has only a relative amount of safety in itself.