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Old 09-18-2008, 11:05 PM
 
Location: South FL
5,449 posts, read 6,726,917 times
Reputation: 3461

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WASHINGTON (Sept. 18) - Wall Street finally found reason to rally Thursday, soaring on a report that the Bush administration was considering setting up a government agency to soak up bad loans and mortgages. But it was far from clear that the government had settled on any solution to the worst crisis on Wall Street in decades.

The Dow Jones industrial average rose 410 points, recording its biggest percentage gain in nearly six years and adding to a week of extraordinary volatility in the American financial system and markets.

Debt-Assumption Plan Sparks Rally - AOL Money & Finance (http://money.aol.com/news/articles/_a/bbdp/debt-assumption-plan-sparks-rally/180260 - broken link)
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Old 09-18-2008, 11:23 PM
 
Location: Victoria TX
42,661 posts, read 78,736,276 times
Reputation: 36343
Investors are learning that the US government can and will borrow an infinite amount of money from guture generations, if that's what it takes to make sure the current president does not go down in the history books as the one who presided over the crash.
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Old 09-18-2008, 11:24 PM
 
Location: Great State of Texas
86,068 posts, read 76,983,265 times
Reputation: 27653
The government bought an Insurance Company. And they are going to shift all the debt from corporations to a new government agency.
We are saved.
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Old 09-18-2008, 11:42 PM
 
Location: South FL
5,449 posts, read 6,726,917 times
Reputation: 3461
Quote:
Originally Posted by HappyTexan View Post
The government bought an Insurance Company. And they are going to shift all the debt from corporations to a new government agency.
We are saved.
Interesting....
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Old 09-19-2008, 12:45 AM
 
145 posts, read 232,633 times
Reputation: 85
Quote:
Originally Posted by Brute Force View Post
WASHINGTON (Sept. 18) - Wall Street finally found reason to rally Thursday, soaring on a report that the Bush administration was considering setting up a government agency to soak up bad loans and mortgages. But it was far from clear that the government had settled on any solution to the worst crisis on Wall Street in decades.

The Dow Jones industrial average rose 410 points, recording its biggest percentage gain in nearly six years and adding to a week of extraordinary volatility in the American financial system and markets.

Debt-Assumption Plan Sparks Rally - AOL Money & Finance (http://money.aol.com/news/articles/_a/bbdp/debt-assumption-plan-sparks-rally/180260 - broken link)

Great!. Another Suckers Rally that'll temporarily help drive down the price of gold long enough for me to buy more.
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Old 09-19-2008, 12:48 AM
 
Location: Ohio
22,798 posts, read 16,039,101 times
Reputation: 19289
Quote:
Originally Posted by Brute Force View Post
The Dow Jones industrial average rose 410 points, recording its biggest percentage gain in nearly six years and adding to a week of extraordinary volatility in the American financial system and markets.
And that has a bearing on what, exactly?
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