LOGO: Truthdig: Drilling Beneath the Headlines. A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.   Exclusive Truthdig Merchandise: Mr. Fish T-shirts and Signed Prints
November 23, 2009
Log in / Register

 Choose a size
Text Size

Most Read

Let the Debate Begin

Beautiful Steamer

Home Sales Jump 10.1% in October

Lou Dobbs for President?

Obama's Job Approval Slips Below 50 Percent

Most Comments
Most Emailed

Reports

Ear to the Ground

A/V Booth

Arts & Culture
Freedom’s Fight: Part II

Digs
Financial Meltdown 101
Vetting Sarah Palin

Truthdig Bazaar more items

 
Ear to the Ground

And Now for Some Financial News That’s Not Utterly Disastrous

Email this item Email    Print this item Print   
Posted on Feb 24, 2009
trading floor
AP photo / Richard Drew

This just in: Not everything is completely awful in the financial arena. Rejoice—stocks went up a little bit! Even if it’s just because Fed Chair Ben Bernanke assured Wall Street that our nation’s banks won’t be nationalized soon, and even if the 2 percent rise happened a day after the Dow dipped to 12-year lows.

Reuters:

Bernanke said that although there could be a time when it is necessary to close banks down, now is not the time.

Bank stocks surged. Bank of America (BAC.N) climbed nearly 18 percent to $4.60 and the S&P Financial index .GSPF jumped 8.2 percent.

Read more

More Below the Ad

Advertisement


Elsewhere: .

Comments

Are you a Truthdig member yet? Login now, or register with Truthdig.

By Jimmy, February 25 at 11:26 am #
(Unregistered commenter)

If only Bernanke would say what Wall Street really wants to hear, tax cuts for the wealthy, no restrictions on executive pay, no accountability, you’ll get the benefits and the tax payers will get the risk, then the Dow Jones will rise and we’ll get a few more dollars in whats left of our investments. Remember in 1997 the market was higher than today and things were good for my family, still no vacation, or second home but enough to go around. It’s all quarterly greed.

Report this

By mud, February 25 at 3:08 am #

Don’t worry, Rome didn’t collapse in a day.

Report this

By P. T., February 24 at 10:17 pm #

A rise in the stock market is bad news.  That indicates Wall Street is hopeful about getting into the taxpayers’ pockets.

Report this

By artie, February 24 at 6:27 pm #
(Unregistered commenter)

Gullible fellow Americans, please remember, Bernanke was speaking to and about his shyster, swindling friends. Without doubt, they will be wealthier than ever long before the year ends. The rest of us will likely be far worse off than now.

Report this

Add Your Comment

Posts by unregistered readers are moderated. Posts by members
are published immediately. Why wait? Register today!







Number of characters remaining: 4000

Notify you when others comment on this article?


Are you a human?
Retype the word you see here.


Please read and abide by our comment policy.
By submitting this comment, you agree to this site's terms and conditions.

 
 

 
Join the Liberal Blog Advertising Network
 
 
 
 
 
 
 

A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
Copyright © 2009 Truthdig, L.L.C. All rights reserved.