Late Daily Financial Recap 13.10.08

Treasury Secretary Henry M. Paulson and House Speaker Nancy Pelosi, by Pablo Martinez for AP
Treasury Secretary Henry M. Paulson and House Speaker Nancy Pelosi, by Pablo Martinez for AP

US to inject $250 billion into banks. Citigroup, JP Morgan Chase, Bank of America and Wells Fargo will each receive $25 billion. Goldman Sachs and Morgan Stanley will get $10 billion.

Asian stocks are rising sharply right now, following the American ones. But wait before you celebrate. Credit markets are opening tomorrow.

Washington believes that they need more regulation. This is almost a 180 on what the US did before. Commodity prices are tumbling. Oil is at $81.19 a barrel.

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Author: range

I'm mathematician/IT strategist/blogger from Canada living in Taipei.

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