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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Apr 03, 2009
Page
12
New York investors pushed major indices higher as optimism about the economy grew. The Dow Jones surpassed 8000 for the first time in months amid bank balance sheet strength from an accounting rule change and global crisis talks, though traders awaited a key employment report.
Maurice Greenberg, former AIG chief executive, told the House committee that the government caused the crisis and taxpayers faced a raw deal in the 182 billion dollar bailouts after the insurer’s collapse. He said his leadership team had nothing to do with the failures.
Commerce Department shows February orders up 1.8 percent reversing six straight declines, while the Dow passes 8000 for the first time in two months. Builders and buyers post better indicators, as world leaders pledge 1.1 trillion to IMF and ECB cuts rates to 1.25 percent. Job market remains grim with unemployment claims at 669,000.
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