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The Government’s Financial Crisis Fix-it Plan Sends Stocks Soaring, Though Some Argue There’s no Quick Fix for this Disaster |
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By Jennifer Yousfi, William Patalon III
And Jason Simpkins
U.S. stocks rallied the most in six years yesterday (Thursday) - with traders actually cheering the ticker action from the floor of the New York Stock Exchange - on the news that the federal government is taking steps to shore up the unraveling U.S. financial system and end the global credit crisis.
After two straight days of sharp selling, U.S. stocks whipsawed their way to major gains yesterday on investor hopes that federal government moves will halt a global credit crisis so severe that some leading market experts are talking about a depression-like downturn. The blue-chip Dow Jones Industrial Average jumped 617 points from its low of the day after U.S. Sen. Charles Schumer, D-NY, proposed plans for a new agency that would function during the current financial crisis much like the Resolution Trust Corp. did during the Savings and Loan Crisis of the late 1980s and early 1990s.
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Russia’s Politics of Isolation Leave it Economically Stranded in a Time of Crisis |
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By Jason Simpkins
Associate Editor
While U.S. financial turmoil has seeped into virtually every global market, Russia has been devastated, as the country’s largest stock exchanges, the MICEX and RTS, have suffered their biggest losses since the 1998 financial crisis. However, Moscow only has itself to blame after heavy-handed economic, political, and military tactics scared away the foreign investments it didn’t oust directly.
Regulators suspended trading on both the MICEX and RTS for the second day in a row yesterday (Wednesday), after the nation’s two biggest exchanges suffered their worst losses in nearly a decade.
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If the Fed Keeps Swimming Against the Tide, it Will End up Drowning |
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By Keith Fitz-Gerald
Investment Director
Money Morning/The Money Map Report
If there’s one lesson you can take away from this financial crisis, it’s this: Whenever the U.S. Federal Reserve squares off against the financial markets, it ends up as the loser.
In recent weeks, I’ve written several articles suggesting that the credit crisis isn’t over and detailed the three indicators that led me to this conclusion - despite what the politicians, the pundits and all the other so-called "experts" would have you believe.
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