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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.
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.
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.
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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