Tuesday, February 10, 2009

Good day to bury gold in the backyard

Good thing we are having a false spring. It will make easier digging a hole in the backyard to hide the family fortune.

I guess the Dow wasn't feeling too "stimulated" today.

The Dow Jones closed 381 points down as financial stocks lead the market lower. Wall Street is concerned about the government's ability to restore the health of the banking industry.

Treasury Secretary Timothy Geithner announced a plan that the government says could mobilize well over $1 trillion in public and private support to get the frozen credit markets functioning again. It includes a government-private sector partnership to help remove banks' soured assets from their books.

Investors are worried the steps won't be sufficient.
Perhaps Secretary Geithner wasn't so indispensible after all.