Wall Streets opens modestly higher on Buffett's $5 billion investment in Goldman Sachs
Financial markets are showing some signs of stabilizing following investor Warren Buffett's $5 billion bet on Goldman Sachs Group Inc. Stocks are modestly higher in early trading, but the credit markets are still strained as they await more news about the government's plan to rescue banks from their bad debts.
Still, Buffett's move is renewing confidence that U.S. financial firms will survive the credit crisis. I am loving any positive news at this point of time. Don't you?
Other news worth checking out:
BUSH CONSIDERS PRIMETIME ADDRESS...
Obama took $105,849 from FANNIE MAE/FREDDIE MAC...
NYT: McCain aide's firm was paid by FREDDIE MAC...
Congress balks at huge financial bailout...
Republican anger at 'financial socialism'...
It will be interesting to see where this will all go. Will there be a bail out next week for airlines? What about the automakers? Insurance? Pensions? As a nation we are now starting to see what happens when you live on credit. This is how the homeowner that purchased a home with no money down...feels like when they go to refinance their home, and they don't qualify.
So how will the government help those citizens? Will there be a bailout for the taxpayers the ones that pay the bills?
We need to get it all done, before it is too late and not manageable.
Richard
Jim: Sounds to me like you feel like I do...When is enough government intervention?The socialization of America is on its way. It reminds me of France 30 years ago.
I hear you Richard. It is interesting to see Warren Buffett jump in the market. Most enjoyable site to see.