World Markets To Moon

Japan closed up a record 14%. The FTSE’s up an additional 5%. US futures are higher.  The credit markets have eased modestly.

Some questions still remain about the government’s seizing of stakes in nine banks (namely, details on pricing and dilution), but overall the government is finally doing the right thing. So now we’ll just have to deal with a nasty recession.

See Also: Everyone Agrees We’re Screwed, So Was That the Market Bottom?

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