WASHINGTON — Federal regulators will guarantee as much as $1.4 trillion in U.S. banks' debt in a bid to get the distressed financial system pumping again. They also took steps Friday to make it easier for private investors to buy banks seized by the government.
Against that bleak economic backdrop, news that New York Federal Reserve President Timothy Geithner is President-elect Barack Obama's choice for Treasury secretary gave battered Wall Street a shot in the arm. The Dow Jones industrials zoomed...
]]>