Posted on 03/23/2009 1:10:52 PM PDT by LottieDah
NEW YORK – Wall Street is getting the good news it wants on the economy's biggest problems: banks and housing.
Investors reignited a two-week rally Monday, cheering the government's plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. Major stock indicators jumped as much as 6 percent, including the Dow Jones industrial average, which soared more than 400 points.
The Treasury Department's bad asset cleanup program would tap money from the government's $700 billion financial rescue fund and involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors.
(Excerpt) Read more at news.yahoo.com ...
Nearly half of the home sales are foreclosures or short sales.
And they are at much lower prices than before.
They won’t. The Toxic assets program will be xpanded. Obamas goal is a progressive pricing system. Where the poor pay less for the same goods as the rich. It will really take off in the health catre program and rapidly be expanded to all aspects of life. Head fer the hills!!
Obama spent us into oblivion.
Wait for it....
I see cheap forclosures being bought ,, people think we’re at the bottom... I see stagnant (at best) wages and a VERY large overhang of unsold existing homes ,,, double the official numbers as banks have been holding foreclosures off the market to keep prices stable... Housing price declines are not over ,, not by a long shot...
The fix is indeed in. The economy was never as bad as was portrayed during the campaign and thereafter. When it does recover, faster than anyone "expected", Obama will be hailed as the Savior of America, and the left will be able to ram every wetdream bill they have down our throats.
Not to mention that Republicans will be wiped out in 2010 and 2012. I’m talking 1932-style wipeouts.
Not to mention that Republicans will be wiped out in 2010 and 2012. I’m talking 1932-style wipeouts.
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