Thursday’s rally by US bank stocks could be based on real news: an anti-foreclosure plan worth roughly $50B. Details are still sketchy, but the basic idea is a subsidy to create a reduction in monthly payments for qualified borrowers. Treasury Dept watch continues in the AM.
- "We are to regard existence as a raid or great adventure; it is to be judged, therefore, not by what calamities it encounters, but by what flag it follows and what high town it assaults."
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