This is an Open Thread: Transparency Counts
Fed Chief’s Reassurance Fails to Halt Stock Plunge
WASHINGTON – The stock market plunged again on Thursday on bad economic news, taking little comfort from reassuring words by the chairman of the Federal Reserve or an emerging consensus about a stimulus plan that many worry could be too late.
On a day when stocks were pushed down another 3 percent on reports of more weakness in housing and manufacturing – bringing the decline this year to a stomach-churning 9 percent – all the major players in Washington agreed on the need for putting extra money into people’s hands quickly.
Spokesman: Bobby Fischer Has Died
REYKJAVIK, Iceland (AP) – Bobby Fischer, the reclusive American chess master who became a Cold War icon when he dethroned the Soviet Union’s Boris Spassky as world champion in 1972, has died. He was 64.Fischer died Thursday in a Reykjavik hospital, his spokesman, Gardar Sverrisson, said. There was no immediate word on the cause of death.
Born in Chicago and raised in Brooklyn, Robert James Fischer was a U.S. chess champion at 14 and a grand master at 15. He beat Spassky in a series of games in Reykjavik to claim America’s first world chess championship in more than a century.
The event had tremendous symbolic importance, pitting the intensely individualistic young American against a product of the grim and soulless Soviet Union.
H/T RJones