NEW YORK - SEPTEMBER 16: A trader sits outside of the New York Stock Exchange September 16, 2008 in New York City. In trading yesterday the Dow Jones Industrial Average fell 4.4% or 500 points, its worst single day loss since the terrorist attacks in September 2001. Today the Federal Reserve is scheduled to announce the target interest rates for the federal funds. It's not clear how the central bank will respond to recent turmoil in the world's financial markets. This comes after news of Merrill Lynch & Co. Inc selling itself to Bank of America Corp, the financial firm Lehman Brothers Holdings Inc. filing for Chapter 11 bankruptcy protection, and insurance giant American International Group Inc. (AIG) attempting to raise capital to stay afloat. Getty Images logo Getty Images 13 months ago

NEW YORK - SEPTEMBER 16: A trader sits outside of the New York Stock Exchange September 16, 2008 in New York City. In trading yesterday the Dow Jones Industrial Average fell 4.4% or 500 points, its worst single day loss since the terrorist attacks in September 2001. Today the Federal Reserve is scheduled to announce the target interest rates for the federal funds. It's not clear how the central bank will respond to recent turmoil in the world's financial markets. This comes after news of Merrill Lynch & Co. Inc selling itself to Bank of America Corp, the financial firm Lehman Brothers Holdings Inc. filing for Chapter 11 bankruptcy protection, and insurance giant American International Group Inc. (AIG) attempting to raise capital to stay afloat.

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  1. James Gorman, head of Merrill Lynch's brokerage business, speaks to reporters during the second annual Reuters Finance Summit in New York in this November 13, 2003 file photo. Morgan Stanley announced September 10, 2009 that Gorman, now one of the investment bank's co-presidents, will replace Morgan Stanley Chief Executive John Mack, who is stepping down.
  2. James Gorman, head of Merrill Lynch's brokerage business, speaks to reporters during the second annual Reuters Finance Summit in New York in this November 13, 2003 file photo. Morgan Stanley announced September 10, 2009 that Gorman, now one of the investment bank's co-presidents, will replace Morgan Stanley Chief Executive John Mack, who is stepping down.
  3. James Gorman, head of Merrill Lynch's brokerage business, speaks to reporters during the second annual Reuters Finance Summit in New York in this November 13, 2003 file photo. Morgan Stanley announced September 10, 2009 that Gorman, now one of the investment bank's co-presidents, will replace Morgan Stanley Chief Executive John Mack, who is stepping down.
  4. U.S. Federal Reserve Chairman Ben Bernanke (R) and former Treasury Secretary Henry Paulson testify at the House Financial Services Committee hearing on "Oversight of Implementation of the Emergency Economic Stabilization Act of 2008 and of Government Lending and Insurance Facilities; Impact on Economy and Credit Availability" on Capitol Hill in Washington in this November 18, 2008 file photo. In September 2008, a turbulent month that saw the fall or near-death experience of industry giants like Fannie Mae, Freddie Mac, AIG, Merrill Lynch and Lehman Brothers, Paulson met with Bernanke numerous times. At the time, Bernanke eagerly backed a proposal by Paulson that was widely criticized for being way too thin on details, weighing in at a mere three pages -- and with nary a mention of Wall Street pay.
  5. A customer uses a First Republic Bank ATM in Palo Alto, Calif., Wednesday, Oct. 21, 2009. Bank of America Corp. has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors for more than $1 billion, according to a report Wednesday by The Wall Street Journal.
  6. A First Republic Bank in Palo Alto, Calif. is shown Wednesday, Oct. 21, 2009. Bank of America Corp. has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors for more than $1 billion, according to a report Wednesday by The Wall Street Journal.
  7. Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Reserve Conference on Key Developments in Monetary Policy in Washington October 8, 2009. Bernanke said on Thursday that while the U.S. central bank's vast support for the economy will likely be needed for a while, the Fed will have to remove those measures as the economy heals to ward off inflation.
  8. Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Reserve Conference on Key Developments in Monetary Policy in Washington October 8, 2009. Bernanke said on Thursday that while the U.S. central bank's vast support for the economy will likely be needed for a while, the Fed will have to remove those measures as the economy heals to ward off inflation.
  9. Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Reserve Conference on Key Developments in Monetary Policy in Washington October 8, 2009. Bernanke said on Thursday that while the U.S. central bank's vast support for the economy will likely be needed for a while, the Fed will have to remove those measures as the economy heals to ward off inflation.
  10. Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Reserve Conference on Key Developments in Monetary Policy in Washington October 8, 2009. Bernanke said on Thursday that while the U.S. central bank's vast support for the economy will likely be needed for a while, the Fed will have to remove those measures as the economy heals to ward off inflation.
  11. Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Reserve Conference on Key Developments in Monetary Policy in Washington October 8, 2009. Bernanke said on Thursday that while the U.S. central bank's vast support for the economy will likely be needed for a while, the Fed will have to remove those measures as the economy heals to ward off inflation.
  12. U.S. Federal Reserve Chairman, Ben Bernanke (L), French finance minister, Christine Lagarde (C) and U.S. Treasury Secretary Timothy Geithner, return to a meeting after a group photograph at the G20 Finance Ministers meeting at the Treasury, in central London September 5, 2009. G20 finance leaders pledged on Saturday to keep economic life-support packages in place for now, slap tighter controls on bankers' pay and give a bigger voice to emerging markets in the international institutions.
  13. A specialist works at his post on the floor of the New York Stock Exchange Friday, Oct. 30, 2009. Major stock indexes tumbled more than 2 percent in late afternoon trading, including the Dow Jones industrials, which gave back all of Thursday's 200-point gain. Banks as well as energy and materials companies posted the biggest losses.
  14. A board on the floor of the New York Stock Exchange displays the closing number for the Dow Jones Industrial Average, Wednesday, Oct. 21, 2009. Spooked traders unraveled a stock market rally late Wednesday as worries mounted about banks and a jump in the price of oil.
  15. A board on the floor of the New York Stock Exchange displays the closing number for the Dow Jones Industrial Average, Wednesday, Oct. 21, 2009. Spooked traders unraveled a stock market rally late Wednesday as worries mounted about banks and a jump in the price of oil.
  16. A board on the floor of the New York Stock Exchange shows the closing number for the Dow Jones Industrial Average, Monday Oct. 19, 2009. The stock market stepped to new highs for the year Monday after a handful of earnings reports bolstered hopes that the economy is coming back sooner than many analysts had thought. (AP Photo/Richard Drew.

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  1. Supporters of Ukraine's Prime Minister and presidential contender Yulia Tymoshenko hand out protective face masks while campaigning in the Ukrainian capital Kiev, Monday, Nov. 9, 2009. Ukraine's presidential election in January could be postponed because of swine flu, a newspaper quoted a government official as saying last Friday. The vote might overturn the results of the 2004 Orange Revolution that swept a pro-Western government to power in Ukraine.
  2. A Palestinian girl looks at a woman buying Lupini beans, called "Turmus" in Arabic, from a vendor in the West Bank city of Ramallah, Monday. Nov. 9, 2009.
  3. A young Palestinian shepherd rests next to his flock in a field in the West Bank city of Ramallah, Monday, Nov. 9, 2009.
  4. A Palestinian gas station employee prays the Muslim evening prayer in the West Bank city of Ramallah, Monday. Nov. 9, 2009.
  5. In this undated photo provided by French police on Monday, Nov. 9, 2009, Tony Musulin, a security driver suspected of making off with euro11 million (US$16.5 million) is seen at an unknown location. A French prosecutor says investigators have found euro 9.5 million (US$14.25 million) in cash believed stolen from a Lyon branch of France's central bank, a heist that prompted a nationwide search. The suspect remains at large.
  6. An Afghan woman with daughter walk in the old city of Bamiyan on November 9, 2009. Bamiyan, some 200 kilometres (124 miles) northwest of Kabul, stands in a deep green and lush valley stretching 100 kilometres through central Afghanistan, on the former Silk Road that once linked China with Central Asia and beyond. The town was home to two nearly 2,000-year-old Buddha statues before they were destroyed by the Taliban, months before their regime was toppled in a US-led invasion in late 2001.
  7. Slovenia�s Minister for Environment Karl Erjavec (R) gestures to his Italian counterpart Stefania Prestigiacomo before their meeting in Brdo, some 50 kilometers from Ljubljana, on November 9, 2009. The Italian delegation, headed by Foreign Minister Franco Frattini, arrived for an official one-day visit to Slovenia to discuss the two countries' relationship and plans for liquefied gas terminal in Trieste�s gulf.
  8. Russian Prime Minister Vladimir Putin (R) and Siemens Chief Executive Peter Loescher meet for talks in Moscow, November 9, 2009. Putin urged German conglomerate Siemens AG to to forge a strategic partnership with state nuclear firm Rosatom during talks on Monday, a union that could lead to a powerfull alliance.
  9. Coach of Argentina's national soccer team Diego Maradona arrives at Barajas airport, Madrid, Monday, Nov. 9, 2009. Argentina and Spain will meet on Nov. 14 in a friendly soccer match at the Vicente Calderon Stadium in Madrid.
  10. Survivors of a landslide of rocks and mud caused by the passage of Hurricane Ida attend the wake of some of the victims at the Catholic Church of San Isidro, some 74 km east of San Salvador on November 9, 2009. At least 124 people have been killed in El Salvador by the severe flooding and landslides. Hurricane Ida is now a category two storm packing top wind speeds of nearly 100 miles (160 kilometers) per hour as it heads towards Mexico's Yucatan Peninsula, the Miami-based National Hurricane Center said.
  11. Olympic gold medallist Michael Phelps of the U.S. listens to a question during a news conference before the start of the short-course World Cup swimming competition in Stockholm November 9, 2009.
  12. A young Buddhist monk looks on as he prays at the Boudhanath Stupa monument in Kathmandu on November 9, 2009. The Boudhanath Stupa, which was declared a world heritage site by UNESCO in 1979, is situated on the eastern side of Kathmandu and according to accounts is the largest Stupa in Nepal and one of the largest in the world. The Stupa, which is situated on the outskirts of Kathmandu, is at the heart of the Nepalese capital's Tibetan community and is an important centre of Buddhist studies.
  13. French dairy farmers drive their tractors to slow down the traffic on November 9, 2009 in Roquefort-sur-Soulzon, central France, prior to a meeting with representatives of industries of the milk sector to end a dispute over prices. The European Union on Monday announced on October 19, 2009 a major aid package to crisis-hit dairy farmers, as hundreds of milk producers demonstrated throughout Europe calling for help.
  14. French dairy farmers drive their tractors to slow down the traffic on November 9, 2009 in Roquefort-sur-Soulzon, central France, prior to a meeting with representatives of industries of the milk sector to end a dispute over prices. The European Union on Monday announced on October 19, 2009 a major aid package to crisis-hit dairy farmers, as hundreds of milk producers demonstrated throughout Europe calling for help. The placard reads in French 'Farmers are angry'.
  15. Russian Prime Minister Vladimir Putin (R) and President and Chief Executive Officer of Siemens AG Peter Loscher meet for talks in Moscow, November 9, 2009.
  16. Ukrainian President Viktor Yushchenko (R) listens to explanations as he visits a pharmacy in Kiev, November 9, 2009. Yushchenko on Sunday dismissed the idea a January election should be delayed because of flu fears and appeared to accept there would be no more IMF funds forthcoming until after the vote.