Fed Announces $200 Billion in Help for Banks

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Aug 29, 2008, 08:37:37 PM

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Fed Announces $200 Billion in Help for Banks

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Topic: Fed Announces $200 Billion in Help for Banks (Read 181 times)

Vidal

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United States

Mar 11, 2008, 07:22:30 PM

NEW YORK (AP) -- The Fed promised a $200 billion booster shot for ailing markets -- and Wall Street answered with its biggest bounce in more than five years.

The Dow Jones industrials shot up more than 416 points, the biggest single-day point gain since July 2002, after the Federal Reserve announced the move as part of a worldwide effort to help struggling banks and mortgage providers.

from : http://biz.yahoo.com/ap/080311/wall_street.html

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Gilbraith

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Joined: Jan 2007
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Canada

Mar 28, 2008, 08:00:07 PM

The US government is really into their welfare packages aren't they?? It's a wonder the US doesn't have socialized medicine considering how much money they shell out to keep the mortgage industry and stock market afloat. Welfare for the wealthy roflmao

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