Market Goes Nuts For Geithner Bank Plan


Apparently, the markets really liked the details of the new toxic assets scheme. Or something. Perhaps there was just more aggressive bidding than selling today.

The Dow rallied 495 points, which is a huge move of over 6%. The index closed over 7700. The NASDAQ meanwhile also gained about 7%, adding 98.50 points to close over 1555.77.

Not surprisingly, all the banks were in rally mode, with each of the big ones gaining over 10%.

So, are you convinced yet?

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