Quote:
Originally Posted by Nehkara
Bush wants OK to spend $700B
Bailout proposal sent to Congress seeks authorization to spend as much as $700 billion to buy troubled mortgage-related assets.
Good thing the stock market isn't open today (although I realize that was likely intentional) because I don't think things would be pretty.
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Is this the implementation of what was said yesterday and led to 800-pt increase in the TSX? I haven't been following this very closely...
http://ctv2.theglobeandmail.com/serv...N/ctv-business
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Markets around the world rallied after the U.S. government said it would create a plan to help banks unload bad debt from their balance sheets in an effort to restore both liquidity and confidence to the banking system. The government also moved to ban short-selling in about 800 financial stocks.
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