The New York Times takes stock of the economy’s dreadful year:

In a mere 12 months, the Dow Jones industrial average plunged 4,488.43 points, or 33.8 percent, its most punishing loss since 1931. Blue chips like Bank of America, Citigroup and Alcoa lost more than 65 percent of their value. The broader Standard & Poor’s 500-stock index sank 39.5 percent, almost exactly matching its decline in 1937.

All told, about $7 trillion of shareholders’ wealth — the gains of the last six years — was wiped out in a year of violent market swings. [Emphasis added.]

If President George W. Bush was allowed to take credit for good economic performance, then I guess its only fair to lay blame for the crash squarely at his feet.

Heckuva job, Georgie! You have less than three weeks to turn this thing around before it officially goes in the history books.