Thursday, September 18, 2008

it's about freakin time!

WSJ reports:

The Dow Jones Industrial Average soared 400 points amid reports that regulators are considering a Resolution Trust-like mechanism to help banks unwind soured credit holdings and stepping up action against short sellers. New York Attorney General Andrew Cuomo said that he has starting a "wide-ranging investigation" into short selling and British regulators barred short sales of financial stocks. Calpers and other large holders said they are no longer lending out shares of Morgan Stanley and Goldman Sachs.

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