Gary Poster, with essential assists from Galyn Norwood, Phiroon Phihakendr, Jose Quijada, Pavandeep Kalra. The tale of the investment banker and the porn star. What's more, Greenspan announced a neutral bias, suggesting no predisposition to raising rates in the future. That's all investors needed. Had Switzerland been that neutral nearly 50 years ago, they would have been bombed.
All bets are off early next year.
The Fed's heart-warming announcement gave banks and financial stocks a lift. Oh, by the way, Yahoo exploded again. Also performing well today were certain biotechs, specifically those involved in genetic engineering. Investment banker James McDermott has been charged by the Securities and Exchange Commission with giving insider trading tips about potential bank mergers to a porn star named Kathryn Gannon, a.k.a Marylin Star. Over the Web, making it the largest online transaction ever.