Dow to fall to 7,000, FTSE to 3,300 « Peter J. Cooper’s Weblog

The $700 billion US bailout has not gone down particularly well today in Asia and Europe. But in Europe we have the nationalization of Fortis, a bailout for Hypo Bank and the nationalization of Bradford & Bingley. I just read that each UK tax payer is now holding around $10,000 of toxic debt after saving B&B and Northern Rock.