Wall Street rally on news of Geithner for Treasury, page 1

Wall Street rally on news of Geithner for Treasury

biz.yahoo.com

Stocks rallied late on Friday after multiple news reports that New York Federal Reserve President Timothy Geithner will be nominated as President-elect Barack Obama's Treasury secretary.
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The news erased uncertainty that has been hanging over the market and helped offset fresh worries about the future of embattled No. 2 U.S. bank Citigroup (NYSE:C - News), which had earlier put a cap on a broad advance during a choppy session.

(visit the link for the full news article)

The buzz I have read is that he will not over regulate Wall St if that is possible???

Also he is supposedly smarter and more articulate the Hank Paulson. How about cutthroat is he more cutthroat??? Well he did formerly work for Kissinger & Assoc

"In 2001 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. He then worked for the International Monetary Fund as the director of the Policy Development and Review Department until moving to the Fed in October 2003. In 2006 he became a member of the influential Washington-based financial advisory body, the Group of Thirty."





biz.yahoo.com
(visit the link for the full news article)

reply to post by Leo Strauss

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I can't wait to hear Hannity explain this one away!





he's been blaming the fall of wall street since the election on Fear of Obama.

Now what will he blame the rally on? Will he say Obama made a good choice?

We shall see.

[edit on 21-11-2008 by HunkaHunka]

reply to post by HunkaHunka

---

Please, you can't discount the amount of selling that's been going on in anticipation of Obama's increased taxes. You can't discount the large number of business' that are openly expressing concern about Obama raising every tax imaginable.

This rally shows nothing in the grand scheme of things.

We'll see where things go in the next couple of days after this announcement has faded.

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