Dow Climbs 416.66 for Its Biggest Gain in Over 5 Years

By | March 12, 2008

Dow Climbs 41666 for Its Biggest Gain in Over 5 Years

On Tuesday, the Fed announced it would offer up to $200 billion in ultra-safe Treasury securities to the nation’s banks, including several major brokerage firms, in exchange for a variety of collateral options — including the very mortgage-backed securities that have caused the recent financial crisis.That means banks will be able to unload some of those soured assets, potentially freeing up money to keep the nation’s economic bloodstream flowing. It was the central banking move that many investors had been waiting for. – nytimes

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