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WASHINGTON - OCTOBER 22: (L-R) Former executive of Moody's Corporation Jerome Fons, Egan-Jones Ratings Managing Director Sean Egan, and former executive of Standard & Poor's Frank Raiter listen during a hearing before the House Oversight and Government Reform Committee on Capitol Hill October 22, 2008 in Washington, DC. The hearing was focused on credit rating agencies and the financial crisis.
WASHINGTON - OCTOBER 22: (L-R) Former executive of Moody's Corporation Jerome Fons, former executive of Standard & Poor's Frank Raiter, Egan-Jones Ratings Managing Director Sean Egan are sworn in during a hearing before the House Oversight and Government Reform Committee on Capitol Hill October 22, 2008 in Washington, DC. The hearing was focused on credit rating agencies and the financial crisis.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell. The extraordinary efforts by Washington and other governments to stem a financial market crisis appear to be helping confidence but will not prevent recession in the world's biggest economy, according to analysts.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell. The extraordinary efforts by Washington and other governments to stem a financial market crisis appear to be helping confidence but will not prevent recession in the world's biggest economy, according to analysts.
Trader David Gaughan signals in the S&P 500 futures pit at the CME Group in Chicago on Tuesday, Oct. 14, 2008. Wall Street fluctuated Tuesday as investors reacted enthusiastically to the U.S. government's plans to spend $250 billion to buy stock in private banks but also collected profits from the previous day's massive advance. The Standard & Poor's 500 index rose 3.02, or 0.30 percent, to 1,006.37.
Trader Andrew Friedman works in the S&P 500 futures trading pit at the CME Group in Chicago, Tuesday, Oct. 7, 2008. The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Standard & Poor's 500 index declined 60.66, or 5.74 percent, to 996.23.
Traders Matthew Jones, center, and Paul Svachula, left, watch the markets in the S&P 500 futures trading pit at the CME Group in Chicago, Tuesday, Oct. 7, 2008. The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Standard & Poor's 500 index declined 60.66, or 5.74 percent, to 996.23.
Trader Alana Muschong gestures as she works in the S&P 500 futures trading pit at the CME Group in Chicago, Tuesday, Oct. 7, 2008. The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Standard & Poor's 500 index declined 60.66, or 5.74 percent, to 996.23.
Trader Alana Muschong gestures as she works in the S&P 500 futures trading pit at the CME Group in Chicago, Tuesday, Oct. 7, 2008. The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Standard & Poor's 500 index declined 60.66, or 5.74 percent, to 996.23.