Summary
The prospect of the federal government's creating an entity to take over the bad debt of banks catapulted the Dow Jones industrial average to its biggest percentage gain in nearly six years Thursday, and it offered hope that confidence in the financial system can be restored.
After a week of alarming sell-offs, the Dow jumped nearly 3.9% amid reports that Treasury Secretary Henry Paulson is considering formation of a vehicle similar to the Resolution Trust Corp., which was established during the savings and loan crisis of the 1980s and early 1990s.See the full content of this document
Extract
Stocks Rise On Bank Rescue Plan
It appeared to be what investors were looking for: a broad government solution rather than one-at-a-time bailouts to deal with sour mortgage debt and the capital crunch that has been crippling Wall Street.
"I think the marke...See the full content of this document
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