Dow Hits High for Year, 10,226.94, as Dollar Weakens
Stocks on Wall Street closed Monday at their highest level in more than a year, with the Dow Jones industrial average rising more than 200 points. The gains came after finance ministers from the world's richest nations said over the weekend that they would push ahead with efforts to revive economic growth through interest rates and increased government spending. But the ministers offered no assurance that they would take steps to support the dollar, which sank on world markets Monday, reaching $1.50 against the euro.
-- Edited by Administrator on Monday 9th of November 2009 04:27:18 PM
Make it illegal to "insure" your investment losses.
If I invest in the latest gadget company and they go belly-up ... I lose! However, if the big financial groups make the same investment they cannot lose. They have insurance to cover the losses. It’s a win-win situation. Doubly because, they are invested in the insurance company that is covering their “bets.”