by Laura Conaway

An Obama voter, @kittydew tweets: "What's happening with the DOW with all this hope and change?"

 

For the record, the Dow is down just over 2 percent today. Bloomberg has a good roundup on why: Corporations are still reporting huge losses. Investors expect U.S. Treasuries to fall in value, again, as President Obama sells record numbers of them to finance the $825 billion stimulus bill. And then there's this little ditty from Nouriel Roubini, a/k/a Dr. Doom:

"I've found that credit losses could peak at a level of $3.6 trillion for U.S. institutions, half of them by banks and broker dealers," Roubini said at a conference in Dubai today. "If that's true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis."