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November 21, 2008

Market Jumps 500 on Naming of Geithner as Treasury Head

Hmmm... presumably he's a capitalist. And naming a capitalist to the Treasury post reassures the market.

I wonder what greater conclusions we can draw from that.

U.S. stocks rallied and the Standard & Poor’s 500 Index rebounded from an 11-year low after President-elect Barack Obama picked New York Federal Reserve Bank chief Timothy Geithner to head the Treasury.
“This news could really give the stock market a badly needed shot in the arm,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, wrote in an e-mail to clients. Geithner is a “fantastic choice to help lead the financial markets out of the wilderness.”

posted by Ace at 04:26 PM

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U.S. stocks rallied and the Standard & Poor’s 500 Index rebounded from an 11-year low after President-elect Barack Obama picked New York Federal Reserve Bank chief Timothy Geithner to head the Treasury. “This news could really give the stock market a badly needed shot in the arm,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, wrote in an e-mail to clients. Geithner is a “fantastic choice to help lead the financial markets out of the wilderness.” posted by Ace at 04:26 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments JackStraw: ">>Yeah, right AfD wants safety and security for it ..." grammie winger - cheesehead: "He wasn't a Muslim, then? Just a guy who liked to ..." fd: "Mostly peaceful Muslim. Mostly. ..." FenelonSpoke: "He wasn't a Muslim, then? Just a guy who liked to ..." FenelonSpoke: "Posted by: publius, Rascally Mr. Miley (w6EFb) at ..." 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