US stocks surge on plan for toxic assets
A sign above the trading floor of the New York Stock Exchange reflects the Dow Jones Industrials up over 500 points in New York USA, 23 March 2009. The Dow Jones Industrial Average closed up 497 points on the US Goverment announcement that it planned to buy up troubled assets from distressed US banks. US stocks staged the biggest rally since November after the US government unveiled the details of a long-awaited plan to take toxic mortgage assets off the balance sheets of US banks. Treasury Secretary Timothy Geithner put forward a 1-trillion-dollar public-private partnership that the administration hopes will go a long way to stabilize the crumbling US financial system
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