Stock Market Soars on Government Solutions
The stock market had its best day in six years on Thursday and has followed through with another huge rally on Friday. Market participants are relieved that the US government is now attempting to enact an overall solution to the credit problems, instead of just putting out fires (Fannie, Freddie, AIG, etc.). The main ingredient to the US government solution will be a "bad bank" which will take much of the toxic bad debts off the books of the major US financial institutions. Final details have yet to be worked out for this "bad bank". However, it is thought that…