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Dow Soars After Banking Plan Announced

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The Dow Jones jumped nearly 500 points Monday after the Feds announced a plan  to help banks remove bad assets from their books.

Major stock indicators surged more than 6 percent, including the Dow. Monday's 497-point Dow advance marked the fifth-biggest point gain in the history of the index.

The Treasury Department’s bad asset cleanup program will use money from the government’s $700 billion financial rescue fund and involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors.

Source:  MSNBC.com,  Dow Soars Nearly 500 Points on Banking Plan

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