1 explanation for the market jump: Monster Stock Reversal on Reports of Treasury Moves to Tame Libor

[Hannah Bell]

Friday, October 10, 2008
Monster Stock Reversal on Reports of Treasury Moves to Tame Libor

The Dow rallied over 700 points to as high as 283 and is now in positive territory. Reader M passed us this report:

Paul Markowski relays that the 3:45 PM speech by Paulson, coming out of the IMF meetings, will include the roll out of a joint clearing mechanism to get interbank lending rates like LIBOR down. Treasury's GS wunderkind Kashkari is due out Monday AM with the opening TARP moves, which probably require equity recap announcements given the late stage of the game. And as you may already know, last night, Pelosi signaled November 17th the House & Senate will be called back for a $150b tax cut.

http://www.nakedcapitalism.com/2008/10/monster-reversal-on-reports-of-treasury.html

[Oregone]

1. "roll out of a joint"

He needs to instead roll a joint and say, "we taxing this shit, bitch".

[Ikonoklast]

2. Legalize and tax

Smoking a doobie would be our patriotic duty.