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NOT A SUBSCRIBER?Market euphoria greets Geithner planPosted on March 24, 2009 7:32 AM
Timothy Geithner must have been practicing his delivery. Wall Street's initial reaction to the Treasury secretary's latest proposal to restore the economy was enthusiastic. Major stock indexes jumped Monday: The Dow Jones Industrial Average alone closed up nearly 500 points, a gain of just under 7%. That contrasts with a 350-point drop in the Dow Feb. 10, when Geithner last offered up major components of his ongoing attempt to restore financial stability.
His latest endeavor provided details of the long-awaited program to acquire illiquid asset pools and individual loans from lenders to clear up their balance sheets and enable them to resume lending. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline.
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