LETTERS

Regarding the story “Investors’ big question: Will it get even worse?” Jan. 1:

The authors state: “As things worsened, the stock market fell for four straight years from 1929 through 1932, for a total loss of 89% on the Dow from peak to trough.”

They then go on to wonder about all the money sitting on the sidelines.

The reporters need to clarify the market’s trajectory from September 1929 through June 1932. The stock market did not fall continuously for four straight years. Both 1930 and 1931 had significant rallies during the first and third quarters, only to suffer a further drop in summer and at year’s end.

Perhaps people are afraid of buying into these sucker rallies, only to lose what they’ve managed to save from carnage.

Debra Wiley

Inglewood

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President Bush was partially correct when he said Wall Street got drunk. The truth is, the public got drunk on Wall Street’s intoxicating concoction of unethically easy qualifications for exorbitant home loans and credit cards. 2009 will be known as the first year of a severe economic hangover that may be more painful than the Great Depression of the 1930s.

Carl Ashworth

Anaheim