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Read an excerpt from Louis Rukeyser's Wall Street October 2008 Commentary:
A September to Remember,
But the Pain Will Not Last Forever
By Nikolas Lanyi
If a market pundit had predicted, as recently as six months ago, that by the end of September the federal government will have seized control of Fannie Mae, Freddie Mac and AIG, and that Lehman Brothers would go bankrupt, and that Merrill Lynch would be forced to sell itself from one day to the next, no one would have believed him.
Yet all these impossible-to-imagine events occurred in September, in a period of eight days. Faced with a potential meltdown of the U.S. credit markets—which would have precipitated an even worse global credit crisis—the federal government took emergency action. While these activities will and should be debated, there’s no question that something had to be done, because in a climate in which little trust exists that loans will be repaid, all lending will cease....
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Louis Rukeyser
1933-2006
As many of you know, Louis Rukeyser died May 2, 2006, at his home in Connecticut. We have lost a great man who was an inspiration to millions of investors — and to those of us who had the honor of working with him.We remain committed to the values that Lou advanced so vigorously during his legendary career, and we will continue his mission of helping individual investors make their financial dreams come true.
We'll continue to "lay it on the line", teaching you how to look beyond today's news to build tomorrow's wealth. It's no fun to watch your net worth bounce around like a yo-yo. What's key to remember is why we own stocks in the first place: because over any long-term period you care to choose, stocks have paid off like no other investment. We promise to bring you the experts and expertise that will continue this tradition.
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