The Dow rallys!

[Mega]

Thank God thats all over!
Mike

[D-Mack]

Re: The Dow rallys!

Only 617 points , pathetic

Traders erupted into cheers on the floor of the New York Stock Exchange as the Dow Jones Industrial Average jumped 617 points from its low of the day after Senator Charles Schumer proposed a new agency to pump capital into financial companies. The Standard & Poor's 500 Index climbed 4.3 percent as 68 companies in the gauge rose more than 10 percent.

http://www.bloomberg.com/apps/news?p...l50&refer=news

[The Outback Oracle]

Re: The Dow rallys!

ahhhhhh? Where is the "capital" coming from? Did the US suddenly find this big pile of old savings, they forgot they had, under the carpet in the White H0use?

[D-Mack]

Re: The Dow rallys!

ahhhhhh? Where is the "capital" coming from? Did the US suddenly find this big pile of old savings, they forgot they had, under the carpet in the White H0use?

the usual source

It is certainly the case that the new institution we are proposing will in the short run require serious money. That will involve a risk to the taxpayer; but the institution, administered by professionals, means that ultimate gains to the taxpayer are also possible.

Moreover, a failure to act boldly in the fashion we are suggesting would cost the taxpayer and the country far more. The pathology of this crisis is that unless you get ahead of it and deal with it from strength, it devours the weakest link in the chain and then moves on to devour the next weakest link. A deteriorating financial system, diminished economic activity, loss of jobs and loss of revenues to the government is enormously costly. And the cost to our citizens' well-being is incalculable.

http://online.wsj.com/article/SB122161086005145779.html

[GRG55]

Re: The Dow rallys!

ahhhhhh? Where is the "capital" coming from? Did the US suddenly find this big pile of old savings, they forgot they had, under the carpet in the White H0use?

I think they sold the carpet that was in the White House. I hear 49% of it was bought by the Chinese...;)

[Tulpen]

Re: The Dow rallys!

ahhhhhh? Where is the "capital" coming from? Did the US suddenly find this big pile of old savings, they forgot they had, under the carpet in the White H0use?

Contrary to common belief it does not require capital for a stock to rise. Stocks can solely rise on a change in sentiment. It does require capital to feed a momentum in a stock but these are just pennies on the dollar if you own the stock, since its value appreciates.

[sunskyfan]

Re: The Dow rallys!