The February jobless numbers are in, and they don’t look good. Employers cut 63,000 jobs last month, the second straight month of cuts, following an anemic increase in December.
Meanwhile, the Fed is putting more money up to auction to banks, indicating it thinks credit crunch problems are even worse than so far admitted.
Reflecting that? Credit insurer Ambac has hustled to scrape up more money, an additional $1.5 billion, to be precise, to try to save its own credit rating.
Result? Dow threatening to Meanwhile, the Fed is putting more money up drop below 12,000.
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