Big morning ahead

Most everything points to major gains when the markets open in a few minutes. European exhanges are up 4-6 percent, following Asia's big advances. Helping build up more confidence is word this morning that Britain and Germany have committed billions in taxpayer funds to prop up banks. Meanwhile, Neel T. Kashkari, the assistant Treasury secretary who will oversee the U.S. bailout, started laying out how it would work. From the NYT:

The government had set up teams to determine the best ways to buy mortgage-backed securities, acquire equity stakes in banks, identify home loans that need to be purchased, insure trouble assets, preserve homeownership, deal with the executive compensation at banks that receive capital injections and assure compliance with regulatory laws. “We will complete the design of these tools and deploy them as soon as they are ready,” he said. “We are committed to helping homeowners and to using the taxpayers’ money efficiently.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
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'I Am Woman,' hear them roar
Bobcat crossing
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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