Difficult day to post, for any of you paying attention, I apologize.
Today's biggest news is the resurgence of the Dow Jones Industrial Average, John McCain's disappearing economic plan, Barack Obama's aggressive new three point economic plan and John McCain subsequently announcing that, "No, wait! I really do have an new economic plan!! And I'll tell you all about it.....tomorrow!! Yeah! That's the the ticket!"
The Dow closed up a record 14 gadjillion percent (actually 11.08%). This was after everyone in Europe followed a British Prime Minister, Gordon Brown, whose international (and possibly domestic, as well) stature has suddenly surged forth in an almost unseemly manner, and actually took action to prop up banks and free up the credit markets in Europe over the weekend. The U.S. Secretary of the Treasury, for now, Hank Paulson, finally giving up his rather stubborn position that capital injection wasn't necessary despite hoards of economists trying to patiently explain it to him, also made a much more forceful statement about purchasing equity stakes in America's largest banks in order to help free up capital over the weekend. It is now being said that he and Federal Reserve Chairman Ben Bernanke will introduce a more comprehensive plan of their own tomorrow morning before the markets open.
It has also been rumored today that Ben Bernake was for the capital infusion from day one but didn't make his views known for the sake of providing a unified front.
