Debt-Assumption Plan Sparks Rally
Debt-Assumption Plan Sparks Rally posted: 1 HOUR 33 MINUTES AGOcomments: 0 filed under: Financial Crisis Stocks post their largest gain in nearly six years on reports that Treasury Secretary Henry Paulson may create a government facility to take on financial institutions' bad debts, similar to the Resolution Trust Corporation set up during the late '80s savings and loan crisis. Latest Developments: • Top Officials Discuss Options • World's Banks Pump in Funds • Morgan Stanley Scrambles
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The Dow rocketed up over 400 points today because of a rumor that the Treasury Department is considering collecting bad debt into a corporation similar to the Resolution Trust Corporation that was created during the Savings & Loan Crisis that occurred between 1989 - 1995. It seems that the “insanity” in Washington gets worse each and every day. If the rumor is true, and I imagine it is, the Treasury Department is considering creating a corporation that would go out and buy bad debt (Mostl
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Some interesting links on the recent collapse of the economy... This WSJ headline says it all: "Worst Crisis Since '30s, With No End Yet in Sight." The government takes over AIG. Tyler Cowen: "I'd like to stress again that I remain worried about the rule of law in all these events. First, the referee is on the playing field. Second, while Dodd and others are on board, basically we have the executive branch of our government -- the Treasury -- operating without formal checks and balances. (Doe
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Filed under: After the bell, Market matters, Amer Intl Group (AIG), Washington Mutual (WM)The markets could have changed their name to 'Yo-Yo' today rather than 'Skydiver.' It wasn't the VIX reaching multi-year highs of 40 that ran us up. It wasn't last night's intervention. It was the first overseas curbing of short selling financial stocks in the U.K. and then the word that the government was preparing a new version of the Resolution Trust Corporation. Dow 11,010.74 +401.08 +3.78%Nasdaq 2,199.
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Debt-Assumption Plan Sparks Rally posted: 1 HOUR 33 MINUTES AGOcomments: 0 filed under: Financial Crisis Stocks post their largest gain in nearly six years on reports that Treasury Secretary Henry Paulson may create a government facility to take on financial institutions' bad debts, similar to the Resolution Trust Corporation set up during the late '80s savings and loan crisis. Latest Developments: • Top Officials Discuss Options • World's Banks Pump in Funds • Morgan Stanley Scrambles read
The Dow rocketed up over 400 points today because of a rumor that the Treasury Department is considering collecting bad debt into a corporation similar to the Resolution Trust Corporation that was created during the Savings & Loan Crisis that occurred between 1989 - 1995. It seems that the “insanity” in Washington gets worse each and every day. If the rumor is true, and I imagine it is, the Treasury Department is considering creating a corporation that would go out and buy bad debt (Mostl read
Some interesting links on the recent collapse of the economy... This WSJ headline says it all: "Worst Crisis Since '30s, With No End Yet in Sight." The government takes over AIG. Tyler Cowen: "I'd like to stress again that I remain worried about the rule of law in all these events. First, the referee is on the playing field. Second, while Dodd and others are on board, basically we have the executive branch of our government -- the Treasury -- operating without formal checks and balances. (Doe read
Filed under: After the bell, Market matters, Amer Intl Group (AIG), Washington Mutual (WM)The markets could have changed their name to 'Yo-Yo' today rather than 'Skydiver.' It wasn't the VIX reaching multi-year highs of 40 that ran us up. It wasn't last night's intervention. It was the first overseas curbing of short selling financial stocks in the U.K. and then the word that the government was preparing a new version of the Resolution Trust Corporation. Dow 11,010.74 +401.08 +3.78%Nasdaq 2,199. read
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