Word: stocked
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...enough to nurse our nation's biggest banks and financial markets back to health? It's not clear. The plan leaves out tens of billions of dollars in bonds that were never AAA-rated and were hard to sell even in good times. The plan triggered a strongly positive stock-market reaction on Monday, when the Dow Jones industrials soared nearly 500 points. On Tuesday the market slipped 1.5%, as doubts about a speedy bank recovery began to take shape...
...uncertain world of stock markets, there are a few events so unambiguously frightening that they guarantee an instant crash. One is a terrorist attack on the world's biggest economy. Another is a global banking collapse. South Africa has a third trigger: the departure of Finance Minister Trevor Manuel. When Manuel, 53, resigned on Sept. 23 last year, the Johannesburg Stock Exchange fell 4% in minutes. Actually, Manuel wasn't going anywhere. President Thabo Mbeki had been ousted in an internal party coup a few days earlier and protocol demanded Manuel step down before being reappointed by Mbeki's successor...
...should be welcomed enthusiastically," Bill Gross, PIMCO's co-chief investment officer, told Reuters. The market moved up 7% mostly on the strength of the Treasury releasing the new program that some analysts believe could improve bank balance sheets. Over the last five trading days, the increase in stock prices is nearly...
...stock market was too low at the beginning of the month because it had all of the bad news of the next two years priced into it. That is, at least, what the current buyers are saying. All of the high unemployment and poor corporate numbers had been taken into account at the bottom. Under almost any set of circumstances, history would support this analysis. A recession lasts four quarters and then turns into a recovery. (See pictures of TIME's Wall Street covers...
There was a lot at stake. When Geithner rolled out an initial version of the plan Feb. 10, the details were missing, the stock market tanked and his image went with it. To give his plan a chance this time, Geithner had to show private investors they could make money partnering with the government to buy troubled loans, and the complex securities based on them, from the banks. (Read "Plan to Buy Toxic Bank Assets Delayed Again...