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What about the week's 9% increase in the price of stocks on the financial markets? ABC's Betsy Stark found "a growing sense on Wall Street" that the federal government's investments in high finance "are beginning to pay off." This week the Bank of America and Citigroup and General Electric were collectively able to borrow $30bn "not from the government but from the open market, proof that once-frozen credit markets have thawed." On NBC, Trish Regan of CNBC picked up hints that the banks are making money and that consumers are spending money. "That said, we are not out of the woods yet," she warned, as the banks still have to write off toxic assets at the end of the quarter and consumer resilience may yet be undermined by continuing layoffs. As Anthony Mason (at the tail of the Chip Reid videostream) put it on CBS: "This may only be a bear market rally."
CBS' Mason advised us to check out 60 Minutes' profile of Chairman Benjamin Bernanke at the Federal Reserve Board. "This is not a shameless plug."
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