Today, Federal Reserve Chairman Ben Bernanke promised investors and Americans that the recession would probably end this year because “regulators aren’t planning to nationalize banks..”
Upon getting this news, stocks immediately jumped:
The news alleviated some of investors’ worries about the economy and the banking system, and lifted the Dow Jones industrial average and Standard & Poor’s 500 index off their lowest levels since 1997.
Next thing you know, Bernanke will be back to tell us how important tax cuts are to the economy.
Judging by the stocks rally today, we all see America’s opinion on the nationalization of any industry.
Hopefully President Obama will pay attention.