Realty Flipping Guide

Update: The Dow ended up closing down 504 points for the day
The past 24 hours have been about as chaotic a time as Wall Street has seen since Black Monday or possibly the Great Depression. Here are a few highlights:

We’ve seen one of the top investment banks fail to secure a bidder and file for bankruptcy

We’ve seen Merrill Lynch essentially forced to be acquired by Bank of America for $50 billion in stock

We’ve seen shares of AIG fall 80% today (World’s Largest Insurer)

We’ve seen WaMu shares fall down 25% to a market cap close to $3 billion

With 40 minutes left in trading, the DOW Industrials are down 399 points or 3.5%

Alan Greenspan called this a once in a century crisis.

With all that going on, what else could be happening?
A Consortium of 10 Banks Has Established a $70 Billion Loan Program to Protect Liquidity
According to the AP:
The ten banks, which […]

Original post by Joshua Dorkin and software by Elliott Back