The market got a nice boost at the open, although as of this writing it is fading a bit. Last night, Bank of America (BAC) said it made a $2 billion investment in Countrywide (CFC). The news helped to ease some of the fears about the current credit crunch. It also emboldened overseas buyers, who sent the markets in Asian sharply higher across the board.This morning, the Fed has injected another $17 billion of reserves into the system. But the financial stocks arent’ really responding. This has some wondering if the strategy is[...]
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[Source: The Money Blogs]
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