What Goes Around
In an effort to erase last week’s record losses on the Toronto stock market from their memory, Canadian traders sent the TSX soaring by 1600 points first thing this morning, its biggest opening rally ever. This comes a day after the Dow posted its largest one-day point gain of all time, closing up 936 points, or 11 percent (the TSX was closed Monday for the Thanksgiving holiday). In other economic news, the U.S. government has announced that it will partially nationalize nine major American banks in an effort to stabilize teetering financial markets. The news leaves Canadians asking one question: who’s the socialist mommy state now?