March 23, 2009

Dow jumps as Obama admin. moves on bad bank assets

Dow jumps as Obama admin. moves on bad bank assets:

"The Obama administration aimed squarely at the crisis clogging the nation's credit system Monday with a plan to take over up to $1 trillion in sour mortgage securities with the help of private investors. For once, Wall Street cheered. The announcement, closely stage-managed throughout the day, filled in crucial blanks in the administration's financial rescue package and formed what President Barack Obama called 'one more critical element in our recovery.'"