Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Wall Street flies on central banks' help for Europe (+4%)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
 
onehandle Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 04:49 PM
Original message
Wall Street flies on central banks' help for Europe (+4%)
Source: Reuters

NEW YORK (Reuters) - Stocks surged on Wednesday after major central banks agreed to make cheaper dollar loans for struggling European banks to prevent the euro-zone debt woes from turning into a full-blown credit crisis.

The S&P 500 posted its best daily percentage gain since August after the Federal Reserve, the European Central Bank and other major central banks stepped in to head off escalating funding pressures that threaten the key arteries of the world's financial system.

The central banks' liquidity move touched off a buying frenzy in financial shares. The S&P financial sector index gained 6.6 percent, with Bank of America the most actively traded stock. The stock jumped 7.3 percent to $5.44 on more than 420 million shares traded.

The drama in Europe kept the U.S. stock market on a roller-coaster ride throughout the month. For November, the S&P ended down just 0.5 percent, but the month was marked by sharp daily swings.

Read more: http://news.yahoo.com/stock-futures-signal-losses-focus...
Refresh | 0 Recommendations Printer Friendly | Permalink | Reply | Top
DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 04:56 PM
Response to Original message
1. "It works every time!"
Printer Friendly | Permalink | Reply | Top
 
Bosonic Donating Member (774 posts) Send PM | Profile | Ignore Wed Nov-30-11 05:04 PM
Response to Original message
2. Roll up
Printer Friendly | Permalink | Reply | Top
 
PSPS Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 10:23 PM
Response to Original message
3. Translation: Private banks now 'officially' run the world.
"Major central banks" = government and quasi-government banks (like the Fed.)

"Private banks" = Goldman Sachs, BofA, etc.

What just happened is that "Major central banks" guaranteed to bail out any problems (gambling losses) that might befall "private banks" worldwide forever in the future. All they have to do is ask for anything and they will get it, no matter what.

Isn't that delightful?


Printer Friendly | Permalink | Reply | Top
 
woo me with science Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 11:28 PM
Response to Reply #3
4. One world corporate government.
The stuff of dystopian science fiction novels, coming to us now...
Printer Friendly | Permalink | Reply | Top
 
grasswire Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-01-11 01:37 AM
Response to Reply #3
5. with U.S. dollars the currency that will be used, right?
What does that mean for the dollar? What does it mean for us? It seems that more is happening than meets the eye.
Printer Friendly | Permalink | Reply | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Nov 26th 2014, 07:28 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC