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Market Gets Boost From Toxic Asset Plan

Vindication? Not exactly, but you can imagine the folks at the White House were breathing a sigh of relief after the stock market closed Monday.

A 500 point burst was answer enough for how Wall Street greeted the plan to absorb the toxic assets of struggling financial institutions.

It's funny how this stuff works. Over the weekend there were calls for Treasury Secretary Tim Geithner's job, and now suddenly he doesn't look so bad.

And as for the outcry over taxpayer funded bonuses to AIG executives, diligent New York Attorney General Andrew Cuomo saw to that.

A number of the scoundrels are giving the money back.

It's a fickle wind that blows through Washington and through the daily news cycles. Suddenly the screaming stops. The tempest calms and the search begins for the next outrage.

To their credit, the Obama folks didn't really fall into the frenzy. For there is always another crisis brewing, somewhere.
By Harry Smith