The calm after the storm?
It's early, but so far no U.S. banks have failed and after a steep plunge, overseas stocks staged a comeback in some parts of the world. U.S. stock futures are actually indicating the mood has shifted on Wall Street and the markets may open up this morning. What a difference a day makes.
The difference appears to be the moves taken by government officials in Europe to shore up the financial system across the pond and keep the financial crisis from spreading. France and Belgium took early morning steps today to rescue the troubled bank Dexia, providing a $9.2 billion capital infusion. Officials elsewhere in Europe appear to be drumming up more coordinated plans to deal with the crisis, as The Post's Edward Cody and Mary Jordan report from our bureaus overseas.
What's next? President Bush plans to make remarks this morning, perhaps outlining where to go from here and urging Congress to get back to the negotiating table after the House killed the $700 billion bailout bill yesterday.
This morning, The Post's columnist Steven Pearlstein has his take on the drama that unfolded yesterday.
Check back here throughout the day for the latest developments.
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Posted by: disgusted | September 30, 2008 7:41 AM
Posted by: Obscene | September 30, 2008 8:02 AM
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