Bernacke Backs New Stimulus Package
cityfile · 10/21/08 05:37AM♦ Lawmakers and officials are moving close to ironing out a second stimulus bill after Fed chair Ben Bernanke endorsed the idea. [Bloomberg, NYT]
♦ The Treasury Department is pushing bigger banks to use the rescue package to acquire smaller, weaker rivals. [NYT]
♦ The Dow's 413-point rise yesterday was attributed to signs the credit market is beginning to thaw. [NYT]
♦ Some people are still making out nicely: Peter Kraus, the head of strategy at Merrill, will be leaving the firm after just a couple of months with as much as $25 million. [WSJ]
