A Turning Point
It’s too early to say we’re at a turning point in the banking and Wall Street financial crisis. One week does not make a trend. Still, it’s intriguing to note that following the bailout of Bear Stearns and other actions by the Fed (supported by the Treasury) that commodity markets tanked, the dollar strengthened (somewhat), and stocks rallied. Perhaps global investors are signaling their approval at Ben Bernanke & Co.’s boldness.
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