Thursday, February 12, 2009

So, THIS Is What Happened

I left the house to take care of some business this afternoon and heard Lynn Samuels on Sirius talking about how the Dow was down over 200 points. I shook my head, because it was down about 125 just before I left. I got home about the time the market closed and was amazed to see it almost back to a break-even point! What happened? Let's just say mortgages and the Obama administration.

Obama Mortgage Plan News Spurs Late Market Rally.

"Stocks staged a late rally to close mostly higher on Thursday after Reuters reported the Obama administration was working on a program to subsidize mortgage payments for troubled homeowners. The S&P 500 and Nasdaq ended higher while the Dow industrials retraced [...]

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