Opinion Streams

I. We Are in the Midst of an Economic Crisis

To say that we are experiencing an economic crisis is probably becoming an understatement. Explaining how the crisis unfolded is like watching a “domino effect” in reverse. Monday, the Dow Jones Industrial Average fell 777.68 points, the biggest single-day drop in its history. The market fell on news of Congress’ failure to pass a $700 billion bailout package that, according to Treasury Secretary Henry Paulson, would save crumbling financial institutions and prevent a credit crunch that may send the global economy into a tailspin.