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Surprise: Good Housing News
Sales of existing homes jumped last month, according to the National Association of Realtors. Sales rose 5.1% from January to February, the largest jump since 2003. But: the median price plunges, to $165,400.
Monday's Focus: the Budget
President Obama will speak about the budget's investments in clean energy and new technology at the Eisenhower Executive Office Building. Aides say Obama has decided energy independence in the budget is not subject to wheeling and dealing. And/But: Will soaring deficits force Obama to sacrifice his agenda?
A Wall Street Thumbs-Up to Geithner's Plan
The Dow soars about 300 points in Monday's trading. Markets also climb in Europe and Asia. But influential NY Times scribe Krugman pans the toxic asset plan.
Fixing the Banking Crisis
Geithner says Monday they'll use $75-$100 billion in bailout money, combined with private capital, to buy up to $500 billion in toxic assets. Also makes the case for the program in WSJ op-ed. Plus: Christina Romer on morning TV: "The whole idea is to make sure we don't overpay for" the bad loans. Watch video here. [...]
VP Meets French PM
Biden will meet with the Prime Minister of France Francois Fillon in D.C. Monday afternoon. Fillon will likely push French President Nicolas Sarkozy's appeals for more regulation of international finance.
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Swampland
Re: Geithner Plan
A despairing Krugman tells us once again that he doesn't like it. But it seems that Wall Street does.
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