Of course Wall Street loves the latest financial recovery plan. If you had something that was worth probably thirty cents and the government offered a chance to sell it for sixty cents, wouldn't you love that idea? If the government offered you a loan that you only had to repay if you made a profit on it, would you not take it in a heartbeat?
The real joy, though, is that this assures Wall Street that the Administration is going to make no fundamental rearrangement of the financial power structure; it's going to try to repair the existing one, not attempt to create a new one. That means that, at least for now, those who have held the reins will continue to hold them.
It also means that the stock traders who made a fortune getting us into this mess get to make another fortune getting us, supposedly, out of it. So buy, buy, buy.
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