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Panic Room: Dow Drops and Rebounds

Do you hear that? No it's not a stampede, it's the panic that washed over Wall Street and the country yesterday after the Dow Jones Industrial Average went into a 1,000-point tailspin. At its afternoon low, the Dow had plummeted 998.50 points, its biggest intraday point drop ever. The Dow eventually rebounded to close down 347.80 points, or 3.2%, at 10520.32, its worst percentage decline since April 2009. Lots of causes have been given including a fat finger glitch, Europe's growing debt crisis and riots over the Greek government's approval of its portion of the European Union and International Monetary Fund bailout. Whatever the reason, all of this drama has got to go.

Puff, Puff, Pass: D.C. passes medical marijuana, bill goes to mayor

All of those folks miffed at Los Angeles for closing medical marijuana facilities may now have another alternative - Chocolate City. DC's City Council has passed a measure to legalize medical marijuana, sending the bill to Mayor Adrian Fenty. The nation's capital would join 14 states that allow medical marijuana for the treatment of H.I.V. and some cancers if the bill passes.  To this we say puff, puff, pass.

 

Business as Usual: Detroit City Corruption Continues in pension fund case

Forget the "Wild, Wild West."  How about the "Buck Wild Mid-West," namely Detroit, where outrageous news keeps on coming?  Former Detroit Lion receiver Roy Dixon, Jr. and his company Onyx Capital Advisers LLC is accused of looting two Detroit city pension funds and one in Pontiac for more than $3.11 million. Yes, you read right -public pension funds. The U.S. Securities and Exchange Commission has filed a civil suit against Dixon because of it. How exactly one loots three public pension funds, we're not sure. But clearly it's business as usual in the motor city.

The Root 100 People's Choice Awards  
Sept. 19 2014 8:34 AM