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

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.

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AP photo / Richard Drew