Source:Valleywag
Fed chairman Ben Bernanke made a couple of moves to infuse banks with more cash before the market opened this morning. According to the Wall Street Journal, Bernanke said the Fed would hold auctions to provide funds to banks and establish foreign exchange swap lines with other central banks. The idea was to loosen up the credit market. Maybe expand some of those straitened tech budgets we warned about yesterday. Right. We think. OK, so we don’t know what this move means either. But tech stocks soared on the news, so who cares? Thanks, guy in D.C.! Big movers: HP, IBM, Google, Apple, Intel, Amazon.com and Research In Motion. (Photo by David Prior)
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on Wednesday, December 12th, 2007 at 4:53 pm and is filed under wall street, stocks, Wonkette, Bubble 2.0.
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