Obama Inauguration: Slide on Wall Street. Where have all the Creditors Gone?… “When Will We Ever Learn?” by Michel Chossudovsky

Across the land, an atmosphere of hope and optimism prevails. The Bush regime has gone. A new president is in the White House.
While America had its eyes riveted on the live TV broadcast of Barack Obama’s presidential inauguration, financial markets were sliding.
A major “market correction” had occurred. Removed from the public eye, virtually unnoticed, a new stage of the financial crisis has unfolded.
Immediately following the inauguration, the Dow Jones plummeted, largely affecting the share prices of major financial institutions.
The quoted stock values of major Wall Street banks plummeted. Citigroup fell by 20 percent, Bank of America by 29 percent and JP Morgan Chase by 20 percent. The Royal Bank of Scotland fell by 69 percent in New York trading.