Thursday, September 18, 2008

Mmmm.. I wonder what they could call this repository?

Stocks surge on report of entity for bad debt

Wall Street surged higher Thursday, with the Dow Jones industrials up more than 400 points after a report that the federal government is considering creation of a repository for banks' bad debt. CNBC said Treasury Secretary Henry Paulson is considering creation of an entity like the Resolution Trust Corp. that was formed after the failure of savings and loan banks in the 1980s.

Posted by stevie dee @ 08:50 PM (502 views)
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