More Bailout Chatter

Hey, the weekend is here! And all the weather guessers blew it, predicting a great weekend. What did we wake up to this morning? Chilly, dreary weather with a bit of rain. As I write this (mid-afternoon) the sun is trying to break through.  Perhaps there is hope, yet.

Most all of the talk this weekend is centered on the economy and the bailout plans. That's not going to change anytime soon!

Plan for "Toxic Assets" Coming Next Week

The Obama administration "is expected to unveil early next week its long-delayed plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions," the New York Times reports. The plan "is likely to [...]

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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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