So, this person says something and the stock market goes down…but so and so said such and such and the stock market goes up. Isn’t that pretty crazy? Who ARE these people? Most of us don’t buy and sell all the time based on a speech we heard, so who are these people manipulating the market?
By JACK HEALY
Published: February 23, 2009
Wall Street bounced back on Tuesday from its lowest levels in more than 11 years after the chairman of the Federal Reserve tamped down investor fears that the government would nationalize major banks.
“We are committed to ensuring the viability of all major financial institutions,” the Fed chairman, Ben S. Bernanke, told the Senate Banking Committee. His reassurance on nationalization followed earlier statements from the White House that supported a privately held banking system.