Wall streets reaction to Spitzer

[ben_meyers]

DOW JONES INDUSTRIAL AVERAGE IN(DJI: ^DJI)
Index Value: 11,990.49
Trade Time: 1:58PM ET
Change: 250.34 (2.13%)
Prev Close: 11,740.15
Open: 11,741.33
Day's Range: 11741.01 - 12022.16
52wk Range: 11,508.70 - 14,280.00

Coincidence?

[ProdigalJunkMail]

1. that's a bit of a stretch n/t

[magellan]

2. The Fed blew $200 BILLION into the financial coffers this morning

It's a reaction to the fairy dust, not the sp(r)itzer.

[Tempest]

3. No coincidence

More like trolling.

As another poster pointed out, the increase is because the Feds dumped $200 billion to prop up the banks.

[ben_meyers]

4. Didn't Spitzer make his rep going after Wall Street corruption?

n/t

[Tempest]

7. So?

It has nothing to do with the market increase today.


Stocks surge as investors welcome reports that the central bank is pumping an additional $200 billion into the banking system
http://money.cnn.com/2008/03/11/markets/markets_afternoon/index.htm?cnn=yes

[madinmaryland]

5. From what I understand the NYSE basically went quiet for a couple

of minutes when the news broke. Absolute shock.

[ben_meyers]

8. Wall Street Cheers

Wall Street Cheers
As Its Nemesis
Plunges Into Crisis
Allies Praise Spitzer,
But Knives Come Out;
'He's Proven Me Correct'
By AARON LUCCHETTI and MONICA LANGLEY
March 11, 2008; Page A1

It's Schadenfreude time on Wall Street.

Eliot Spitzer, the New York governor who made his name taking on the titans of finance, apologized yesterday in vague terms following reports that he used the services of a prostitute in a case being investigated by federal prosecutors.

The news stunned traders on Wall Street, where Mr. Spitzer long has been viewed with fear and contempt. Some view the revelations as a huge hypocrisy for a man, who as New York's attorney general, had aggressively pushed for ethics and fair play on Wall Street earlier this decade. People who clashed hardest with Mr. Spitzer are among those crowing the loudest.

http://online.wsj.com/article/SB120519411945525721.html?mod=googlenews_wsj

[stray cat]

6. as stated - the fed gave the banks a ton of money this AM

and have said they will cut rates next week.