Street Rebounds on Day One:
Wall Street recovered two-thirds of yesterday's losses today. There is still a lot of money floating around, looking for some place that can earn it a profit. Tech stocks were also up, according to The New York Times, with I.B.M., H.P., Sun Microsystems, and Dell, all posting gains.
One New York economist, rated highly by the Times, "has estimated banks will have $3.6 trillion in losses before the financial crisis is over." Many banks are expected to be nationalized.
Wall Street recovered two-thirds of yesterday's losses today. There is still a lot of money floating around, looking for some place that can earn it a profit. Tech stocks were also up, according to The New York Times, with I.B.M., H.P., Sun Microsystems, and Dell, all posting gains.
One New York economist, rated highly by the Times, "has estimated banks will have $3.6 trillion in losses before the financial crisis is over." Many banks are expected to be nationalized.
Labels: The Economy
posted by Jim | 6:08 PM
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