Geithner's optimism on banks ignites new rally on Wall Street
Associated Press
NEW YORK — Treasury Secretary Timothy Geithner persuaded Wall Street to give banks another chance yesterday.
Geithner's assertion that "the vast majority" of banks have enough capital, pulled stocks from a slump that began with a sell-off Monday and spilled over into yesterday morning.
Stocks fluctuated in the early going yesterday after a string of lackluster earnings reports and forecasts stoked worries about how quickly the economy can recover.
