Big Bailout Isn't a Slam DunkMatthew Goldstein
Late last week investors cheered the news that the federal government was racing to put together a massive $700 billion bailout package for the financial system. A huge two-day rally in the stock market nearly wiped out all of last week’s declines and almost made investors forget Lehman’s bankruptcy filing, Merrill’s shotgun marriage with Bank of America and the government’s defacto takeover of insurance giant AIG.
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