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WASHINGTON (AP) — Promising to protect the United States while adhering to its core human values, President-elect Barack Obama formally unveiled his intelligence team Friday, praising their integrity, management skills and willingness to tell him the truth. “We must adhere to our values as diligently as we protect our safety with no exceptions,” Obama said.

Obama picked retired Adm. Dennis Blair as the national intelligence director and Leon Panetta to head the CIA.
He called them “public servants with unquestioned integrity, broad experience, and strong managers with the core pragmatism that we need in dangerous times.”

Obama said he has given the men the clear charge to restore the United States’ record on human rights.

“I was clear throughout this campaign and was clear throughout this transition that under my administration the United States does not torture. We will abide by the Geneva Conventions. We will uphold our highest ideals,” he said.

Obama said that the country learned “tough lessons” under the Bush administration, and he will demand intelligence assessments “grounded solely in the facts, and not seek information to suit any ideological agenda.”

Blair, a former head of the U.S. Pacific Command, pledged to uphold the standards that Obama articulated “and that the American people have a right to expect.”

Blair won high marks for countering terrorism in southeast Asia after the Sept. 11, 2001, attacks. He worked closely with foreign partners in crafting offensives that crippled the Jemaah Islamiyah terror faction in Indonesia and the Abu Sayyaf group in the Philippines.

Obama Announces CIA and national intelligence directors (Full Press Conference)

Panetta, a former congressman, White House chief of staff and budget director with no direct intelligence experience, will have the president’s “complete trust and substantial clout,” Obama said.

“He has handled intelligence daily at the very highest levels, and time and again he has demonstrated sound judgment, grace under fire, and complete integrity,” he said.

Panetta said he would work to assuage a Congress bruised from eight years of abrasive relations with the Bush administration and promised “to form the kind of partnership we need if we’re to win the war on terror.”

Obama praised the intelligence professionals working at 16 U.S. agencies even as he criticized the current administration for directing them in carrying out harsh interrogation and secret rendition policies.

“They have served in the shadows, saved American lives, advanced our interests, and earned the respect of a grateful nation,” Obama said.

Obama is also tapping John Brennan to head homeland security and counterterrorism on the National Security Council. Michael Leiter will remain on as the director of the national Counterterrorism Center. And outgoing National Intelligence Director Michael McConnell will serve on Obama’s Foreign Intelligence Advisory Board. Obama has also asked the CIA’s current deputy, Steve Kappes, to remain at the agency.

Current CIA director Michael Hayden said in a message to employees Friday that he has been asked to remain at the agency until Panetta is confirmed by the Senate.

He said he and Kappes met with and are “deeply impressed with his candor and clear commitment to the welfare of the men and women of CIA.”

McConnell said in a statement Friday he was pleased with the selection of Blair.

Blair and Panetta are both garnering substantial support on Capitol Hill, although concerns exist about each. Sen. Ron Wyden, D-Ore., told The Associated Press on Thursday that he plans to question Blair about the role he played 10 years ago in U.S. efforts to rein in the Indonesian military as it brutally cracked down on civilians in East Timor. Staff aides to other members said they would be listening closely to the answers.

Paramilitary groups sponsored by the Indonesian military with U.S. financial and political patronage slaughtered more than 200,000 East Timorese over two decades. In 1999, as civilians were being massacred, Congress and the Clinton administration cut off all military ties.

Blair, then U.S. Pacific Command chief, pushed for renewing relations with the Indonesian army, reasoning that drawing it closer would give the U.S. more leverage. Obama spokeswoman Brooke Anderson said Blair was acting in accordance with U.S. policy.

“Admiral Blair condemned the conduct of Indonesian troops in East Timor, and he conveyed that if they behaved responsibly, the U.S. was prepared to resume normal relations. If they did not, they risked further negative consequences,” she said.

The East Timor and Indonesia Action Network, a human rights group, called Blair a poor choice for intelligence director this week.

Ed McWilliams, who was political officer at the U.S. Embassy in Jakarta at the time and is now with the human rights group, told the AP “the matter raises the larger question of our cooperation with militaries and intelligence agencies which abuse human rights, are unaccountable before their own justice systems and not subordinate to civilian control.”

But McWilliams credited Blair for trying to lead a human rights delegation to Indonesia’s province of West Papua where terrible abuses were occurring. He and his delegation were blocked by security forces.

Panetta faced resistance from the Hill earlier this week because of his lack of intelligence experience, but his prospects for an easy confirmation improved this week as key senators, including incoming Intelligence Committee Chairman Dianne Feinstein, pledged their support after discussions with Obama, Panetta and Vice President-elect Joe Biden.

Source: AP

Black African Muslims are seen as being of less value than lighter or browner African Muslims from the North, killing Black Africans seems less important to the Middle East and N. African regions than the Palestinian crisis, where far fewer people have died.

Black African Muslims are seen as being of less value than lighter or browner African Muslims from the North, killing Black Africans seems less important to the Middle East and N. African regions than the Palestinian crisis, where far fewer people have died.

NAIROBI — If the election of Barack Obama has been greeted with glee across much of Africa, there is at least one spot where the mood is decidedly different.

In the Sudanese capital of Khartoum these days, political elites are bracing for what they expect will be a major shift in U.S. policy toward a government the United States has blamed for orchestrating a violent campaign against civilians in the western Darfur region.

“Compared to the Republicans, the Democrats, I think they are hawks,” said Ghazi Suleiman, a human rights lawyer and member of the Southern People’s Liberation Movement, which has a fragile power-sharing agreement with the ruling party. “I know Obama’s appointees. And I know their policy towards Sudan. Everybody here knows it. The policy is very aggressive and very harsh. I think we really will miss the judgments of George W. Bush.”

While the Bush administration most recently advocated the idea of “normalizing” relations with Sudan as a carrot approach to ending a crisis it labeled a genocide, Obama’s foreign policy appointees have pushed for sticks.

Hillary Rodham Clinton, the nominee for secretary of state, has called for a NATO-enforced no-fly zone to “blanket” Darfur in order to prevent Sudanese bombing of villages. The appointee for U.N. ambassador, Susan E. Rice — a key Africa adviser to the Clinton administration during the 1994 Rwandan genocide, when President Bill Clinton was sharply criticized for failing to act — has pushed for U.S. or NATO airstrikes and a naval blockade of Sudan’s major port to prevent lucrative oil exports. Rice has vowed to “go down in flames” advocating tough measures.

Vice President-elect Joseph R. Biden Jr., who was chosen for his foreign policy experience and pressed early for U.S. intervention to stop the fighting in the Balkans, was blunt during a hearing last year: “I would use American force now,” he said.

But it remains unclear how those pre-election views will square with the president-elect, who has outlined a pragmatic, coalition-based approach to foreign policy, while also speaking of America’s “moral obligation” in the face of humanitarian catastrophes of the sort that are plentiful in Africa.

Heading off potential genocide is the focus of a task force report to be released today in Washington. The group recommends, among other things, that the Obama administration create a high-level forum in the White House to direct the government’s response to threats of mass violence.

So far, Obama has been more cautious on Darfur than some of his appointees, advocating tougher sanctions against Khartoum and a no-fly zone that might be enforced with U.S. “help.” He has not called for direct U.S. intervention.

Obama intends to keep Bush’s defense secretary, Robert M. Gates, who has already suggested that the United States will not provide much-needed helicopters to a struggling peacekeeping mission in Darfur because U.S. forces are stretched too thin in Iraq and Afghanistan. Obama has also nominated as national security adviser retired Marine Gen. James L. Jones, a former NATO supreme allied commander who has suggested that NATO’s role in Darfur should be training and support to the current peacekeeping mission rather than direct intervention.

And specialists close to Obama’s presidential campaign said that more generally, the new administration sees a need for diplomatic approaches to security crises across the continent.

“We don’t have the capacity to pacify these places militarily,” said John Prendergast, a Darfur activist and former White House aide during the Clinton administration, citing Sudan and the worsening conflicts in Congo and Somalia. “We need political solutions.”

Sudan’s U.N. ambassador, Abdalmahmood Abdalhaleem Mohamad, dismissed the calls for military action as “only election slogans.”

“You cannot claim to be disengaging from disasters like Iraq but creating a new disaster in one of Africa’s biggest countries,” he said.

The crisis is in many ways a far more complex conflict than the one the Bush administration confronted. The violence in Darfur began in February 2003 when two rebel groups attacked Sudan’s Islamic government, claiming a pattern of bias against the region’s black African tribes. Khartoum organized a local Arab militia, known as the Janjaweed, to wage a scorched-earth campaign against the three ethnic groups — mostly farmers and traders — thought to be the rebels’ political base.

Some analysts estimate that as many as 450,000 people have died from disease and violence in the conflict. About half the population of the Darfur region — about 2.5 million people — are now displaced.

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Famous for being famous! This election was amazing in that the things which were first said to hurt Obama – came back in the end to help defeat McCain – for example, Obama’s ability to attract large crowds – would go on to mean he would attract 200,000 plus in Germany – but rather than admit this was a great accomplishment (given Germany’s history) – Republicans chose to deride it – saying that Barack Obama was merely a celebrity – not to be taken seriously. Enter Sarah Palin, who for some really is a celebrity – who literally doesn’t know enough – to put together a concise argument on any number of critical issues – important to those seeking the highest office. Without substance Sarah Palin becomes famous for being famous – a celeb politician – who ‘ain’t in it for naught’.

She failed to save John McCain from presidential election doom, but Sarah Palin, the Republican senator’s controversial running mate, may yet emerge as the saviour of the American publishing industry. Literary agents are queueing up to sign her to a book deal that could earn her up to $7m.

With Barack Obama’s election victory certain to generate dozens of volumes from politicians, strategists and journalists – and with another shelfload of memoirs expected from members of President George W Bush’s administration – Palin’s personal account of her tumultuous introduction to national politics is widely regarded as the book most likely to repay a multi-million-dollar advance.

“She’s poised to make a ton of money,” said Howard Rubenstein, New York’s best-known public relations adviser.

“Every publisher and a lot of literary agents have been going after her,” added Jeff Klein of Folio Literary management.

Palin’s profile showed no sign of diminishing last week, despite McCain’s defeat and embittered Republicans seeking a scapegoat for the party’s collapse.

She now finds herself in a position similar to Obama’s in 2004, when the then mostly unknown Chicago politician delivered a mesmerising speech to the Democratic convention, was elected to the Senate and swiftly wrote a bestselling book – The Audacity of Hope. This proved to be the springboard for his presidential launch.

Like Obama, Palin has come from nowhere – in her case, Wasilla, Alaska. She is considered a likely candidate to move to Washington as Alaska’s senator if one of the state’s two seats falls vacant next year. Her book may reach a vast audience fascinated by her journey from the moose-hunting wastes of the Alaskan tundra to a historic battle for the White House.

Undaunted by her poll defeat, Palin was in fighting form last week, inviting cameras into her home, serving visiting interviewers home-cooked moose chilli and haddock and salmon casserole.

She scoffed at untrue reports that she initially thought Africa was a country and that she didn’t know members of the North American Free Trade Agreement. She said much of the criticism levelled at her came from “bloggers in their parents’ basements just talking garbage”.

At a sombre meeting of Republican governors later in the week, Palin’s megawatt celebrity far outshone her more experienced colleagues. Frank Luntz, a prominent Republican consultant, called her a “rock star”, but Tim Pawlenty, the governor of Minnesota, warned that she would be only “one of the voices” leading the party forward.

Yet there are already signs that conservative Republicans, thrilled by Palin’s right-wing views, are manoeuvring to keep her in the public eye with a view to the 2012 elections and beyond. One group, called Our Country Deserves Better, last week collected tens of thousands of dollars to pay for television advertisements to run over the forthcoming Thanksgiving holiday. The adverts are to thank Palin for her efforts.

Despite polling evidence that Palin failed to make much impact on any of the groups that McCain strategists hoped she might deliver – women, independent voters and suburbanites – her supporters insisted that she should not be blamed for either McCain’s shortcomings or the legacy of the Bush administration’s failures. Palin herself noted that in view of the Bush record, “it’s amazing we did as well as we did”.

Although anonymous McCain aides had variously described her as a “diva” and a “whack job” and Maureen Dowd of The New York Times derided her last week as “Eliza Know-little”, she has earned plaudits from a surprising range of friends and former foes for keeping her cool under fire.

Camille Paglia, the radical feminist, declared that she had “heartily enjoyed [Palin’s] arrival on the national stage”. She had been subjected to “an atrocious and sometimes delusional level of defamation”, Paglia added. “I can see how smart she is and, quite frankly, I think the people who don’t see it are the stupid ones.”

Joanne Bamberger, the liberal author of the popular PunditMom blog, praised Palin for not “fading into the Alaskan woodwork”, and added: “She’s got some serious chutzpah . . . Palin has taken charge of this moment . . . and she’s making the most of the notoriety that was offered her”.

With publishers as nervous as everyone else about next year’s economic prospects, Palin’s popularity has become a boon. “Nobody is waiting for George W Bush’s memoirs,” one New York agent noted.

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Stiff Republican Resistance Could Force Democrats to Wait for Obama and Their Party’s Enlarged Majority to Take Office

WASHINGTON — Congressional Democrats are scaling back plans for an economic-stimulus package as partisan deadlock clouds chances for passage of either that measure or a proposed bailout of Detroit’s auto makers until the party’s enlarged majority convenes in January.

Former auto worker Willie Daniel leaves a United Auto Workers hall in Brook Park, Ohio, on Wednesday. Like many UAW members, he took a buyout amid fears that jobs could disappear as car sales continue their steep decline.

Former auto worker Willie Daniel leaves a United Auto Workers hall in Brook Park, Ohio, on Wednesday. Like many UAW members, he took a buyout amid fears that jobs could disappear as car sales continue their steep decline.

Democratic leaders want to move legislation that would give a jobs-producing jolt to the economy. They also support proposals to toss a $25 billion financial lifeline to Detroit. But it isn’t clear either of those steps can pass before January, when President-elect Barack Obama and a new, more heavily Democratic Congress take office.

The biggest problem is in the Senate, where Democrats have only a 51-49 edge until year’s end. The Bush administration is balking at the Democratic agenda, and Republicans in the House and Senate are growing more vocal about their concerns, especially concerning the auto package.

“The financial situation facing the Big Three [auto makers] is not a national problem, but their problem,” said Alabama Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee.

In the House, Minority Leader John Boehner, the Ohio Republican, assailed the proposed aid to Detroit as “neither fair to taxpayers nor sound fiscal policy.”

Senate Banking Committee Chairman Christopher Dodd said Thursday that he knew of no Republicans who would support the $25 billion proposal by Democrats, and said he is disinclined to move a bill without bipartisan support.

“I’d want to be careful about bringing up a proposition that might fail,” given that a rescue plan would be more likely to pass under an Obama administration, the Connecticut Democrat told reporters on Capitol Hill. “There’s some political considerations that need to be made over the next few days.”

Senate Majority Leader Harry Reid of Nevada still plans to move forward next week. “Senator Reid still believes it is important to address this crisis plaguing our auto industry,” said Reid spokesman Jim Manley, adding that bipartisan cooperation will be needed. “We cannot do it without the support of Senate Republicans, who I hope will join us to pass a bill that saves the jobs and protects the livelihoods of millions of hard-working Americans.”

Mr. Dodd, meanwhile, wants to add foreclosure relief to an economic-stimulus package. He expressed frustration Thursday with efforts to help distressed homeowners by the private sector and the Bush administration, which was supposed to make foreclosure relief a top priority in the $700 billion rescue packaged enacted earlier this fall to stabilize financial markets.

“We want to see more progress,” Mr. Dodd said, adding he is prepared to legislate — “now, if possible” — to address the problem.

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Bush

WASHINGTON — When a Congressional committee subpoenaed Harry S. Truman in 1953, nearly a year after he left office, he made a startling claim: Even though he was no longer president, the Constitution still empowered him to block subpoenas.

“If the doctrine of separation of powers and the independence of the presidency is to have any validity at all, it must be equally applicable to a president after his term of office has expired,” Truman wrote to the committee.

Congress backed down, establishing a precedent suggesting that former presidents wield lingering powers to keep matters from their administration secret. Now, as Congressional Democrats prepare to move forward with investigations of the Bush administration, they wonder whether that claim may be invoked again.

“The Bush administration overstepped in its exertion of executive privilege, and may very well try to continue to shield information from the American people after it leaves office,” said Senator Sheldon Whitehouse, Democrat of Rhode Island, who sits on two committees, Judiciary and Intelligence, that are examining aspects of Mr. Bush’s policies.

Topics of open investigations include the harsh interrogation of detainees, the prosecution of former Gov. Don Siegelman of Alabama, secret legal memorandums from the Justice Department’s Office of Legal Counsel and the role of the former White House aides Karl Rove and Harriet E. Miers in the firing of federal prosecutors.

Mr. Bush has used his executive powers to block Congressional requests for executive branch documents and testimony from former aides. But investigators hope that the Obama administration will open the filing cabinets and withdraw assertions of executive privilege that Bush officials have invoked to keep from testifying.

“I intend to ensure that our outstanding subpoenas and document requests relating to the U.S. attorneys matter are enforced,” said Representative John Conyers Jr., Democrat of Michigan and chairman of the House Judiciary Committee. “I am hopeful that progress can be made with the coming of the new administration.”

Also, two advocacy groups, the American Civil Liberties Union and Human Rights First, have prepared detailed reports for the new administration calling for criminal investigations into accusations of abuse of detainees.

It is not clear, though, how a President Barack Obama will handle such requests. Legal specialists said the pressure to investigate the Bush years would raise tough political and legal questions.

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Newly obtained computer schematics provide further detail of how electronic voting data was routed during the 2004 election from Ohio’s Secretary of State’s office through a partisan Tennessee web hosting company.

A network security expert with high-level US government clearances, who is also a former McCain delegate, says the documents – server schematics which trace the architecture created for Ohio’s then-Republican Secretary of State and state election chief Kenneth Blackwell – raise troubling questions about the security of electronic voting and the integrity of the 2004 presidential election results.

The flow chart shows how voting information was transferred from Ohio to SmarTech Inc., a Chattanooga Tennessee IT company known for its close association with the Republican Party, before the 2004 election results were displayed online.

Information technology expert Stephen Spoonamore believes this architecture could have made possible a KingPin or “Man in the Middle” (MIM) attack — a well-defined criminal methodology in which a computer is inserted into the network of a bank or credit card processor to intercept and modify transactions before they reach a central computer.

In an affidavit filed in September, Spoonamore asserted that “any time all information is directed to a single computer for consolidation, it is possible… that single computer will exploit the information for some purpose. … In the case of Ohio 2004, the only purpose I can conceive for sending all county vote tabulations to a GOP managed Man-in-the-Middle site in Chattanooga before sending the results onward to the Sec. of State, would be to hack the vote at the MIM.”

Not everyone agrees. RAW STORY also sent the schematics to computer science professor David L. Dill, a longtime critic of electronic voting machines. In an email message, Dill said he’s skeptical that an attack of the sort described by Spoonamore could have been carried out undetected.

“It seems that the major concern is whether routing election results through a third-party server would allow that third party to change the reported election results,” Dill wrote. “These diagrams haven’t answered my basic question about that idea. The individual counties know the counts that they transmitted to the state. If those results were altered by the state or a middleman, I would think that many people in many counties would know the actual numbers and would raise an alarm.”

Spoonamore has now filed a fresh affidavit (pdf), in regard to a case involving alleged Ohio vote tampering, which asserts that the schematics support a “Man in the Middle” attack having been implemented in Ohio in 2004. Ohio provided the crucial Electoral College votes to secure President George W. Bush’s reelection.

“The computer system at SmartTech had the correct placement, connectivity, and computer experts necessary to change the election in any manner desired by the controllers of the SmartTech computers,” Spoonamore wrote in the affadavit.

“Overall, my analysis of the two Architectures provided is the following,” he added. “They are very simple systems. They are designed for ease of use during the one of two times a year they are needed for an election. They are not designed with any security or monitoring systems for negative actions including MIM or KingPin attacks. These systems as designed would not be sufficient for any banking function, credit card function, or even or many corporate email systems needing a high degree of confidence. They are systems which will work easily, but are based on a belief all users and the system itself will be trusted not to be hacked.”

He continued, “There are obviously many parties willing, with motivation, and able to hack an election for a desired outcome.”

Inconclusive Evidence?
Dill told Raw Story the schematics are inconclusive and that he continues to have questions after reading Spoonamore’s latest affadavit, although he cautioned that he himself is not an expert in Spoonamore’s specialty of network security.

“Basically, the whole thing seems highly speculative,” Dill said. “It’s important to distinguish ‘possible’ from ‘probable’ here. I don’t even know if this is possible. More details about how the tabulators worked in those particular counties, who was managing them, how the results were uploaded, whether they were all the same kind, etc. would help establish that.”

“As to ‘probable’ — I don’t think that’s been established at all, unless one starts with the presumption that the election was stolen and works backwards from there,” he added. “I don’t think Spoonamore has made the case that SmartTech and Triad ‘.. reversed the outcome of the 2004 Ohio Presidential Race.’ I don’t know that it DIDN’T happen, but, at this point, I think we need to demand better evidence.”

“Neither I nor Spoonamore have any special knowledge on exit polls or Ohio voting patterns in judicial races,” Dill continued. “I’d urge you to take a close look at what skeptical political scientists have written. It’s been a long time, but I was left with the impression that proof was lacking.”

RAW STORY has posted the schematics here for 2004 and for 2006 see below.

2006 schematics/click to enlarge

The Connally Anomaly
Spoonamore notes that on election night in 2004, he observed what he calls the “Connally anomaly,” in which eight Ohio counties that had been reporting a consistent ratio of Kerry votes to Bush votes suddenly changed at about 11 pm and began reporting results much more favorable to Bush. Election tallies in these counties, plus a few others, also showed the unlikely result of tens of thousands of voters choosing an extremely liberal judicial candidate but not voting for Kerry.

Spoonamore immediately suspected that a Man in the Middle attack had occurred but had no idea how it could have been carried out. It was not until November 2006 that the alternative media group ePluribus Media discovered that the real-time election results streamed by the office of Ohio’s Secretary of State at election.sos.state.oh.us had been hosted on SmarTech’s servers in Tennessee.

“Since early this decade, top Internet ‘gurus’ in Ohio have been coordinating web services with their GOP counterparts in Chattanooga, wiring up a major hub that in 2004, first served as a conduit for Ohio’s live election night results,” researchers at ePluribus Media wrote.

By then, SmarTech had become embroiled in the White House email scandal, during which it was discovered that accounts at rnc.com, gwb43.com, and other Republican Party domains which were hosted by SmarTech had been used by White House staff,, instead of their official government email accounts, to avoid leaving a public record of their communications. When subpoenaed by Congress, the White House said the emails had been accidentally deleted.

Remaining Questions
Dill further noted after examining the schematics, “The 11/02/04 diagram has several computer icons in the upper left for EN Results entry of various types. I don’t know how this works, but given that counties are using different software to prepare their totals, I suspect the data is entered by hand into web forms or that spreadsheets are uploaded. Such an entry method would not easily lend itself to corrupting the original data. … Even if data can be changed at the county servers, many pollworkers and possibly others know the results that were reported from their precincts, and someone would probably notice if the numbers reported by the county or state differed from those.”

Dill said it would be helpful to have more information regarding the computers used and how they were connected.

“It would be a great idea to get some more definitive information about how the computers were connected and run in those counties,” he wrote. “Messing with disks might help cover up evidence after the fact. But the first thing that had to happen was that county-level results had to be changed in such a way that no one could compare the precinct results with the announced totals.”

Spoonamore said tampering could have been accomplished without broad knowledge.

Some have said “that local County Elections officials had been instructed to fax final results to confirm them, but this action would not have mattered if the local elections boards computers were already under the control of the KingPin,” he wrote. He said the ultimate results faxed to the Secretary of State from Ohio counties could have been inserted by SmarTech, providing “a smokescreen” that would “mask the already hacked results and provide an illusion the tabulators were not reporting results over the Internet.”

Source: Raw Story

NEW YORK – Wall Street suffered through another traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points and setting a new record for a one-day point drop as investors despaired that the credit crisis would take a heavy toll around the world. The Dow also fell below 10,000 for the first time since 2004, and all the major indexes fell about 5 percent.

The catalyst for the selling was the growing realization that the Bush administration’s $700 billion rescue plan and steps taken by other governments won’t work quickly to unfreeze the credit markets. Moreover, investors are increasingly unnerved by the paralysis in the credit markets that has started to affect companies trying to borrow for acquisitions or just to conduct their daily operations.

That sent stocks spiraling downward in the U.S., Europe and Asia, and drove investors to sink money into the relative safety of U.S. government debt. Fears about a global recession also caused oil to drop below $90 a barrel.

“The fact is, people are scared and the only thing they’re doing is selling,” said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research. “Investors are cleaning out portfolios and getting rid of everything because nothing seems to be working.”

The selling was so extreme that only 107 stocks rose on the NYSE — and 3,121 dropped. That’s a telling sign considering the stock market is considered a leading economic indicator, with investors tending to buy and sell based on where they believe the economy will be in six to nine months.