country. the s&p and nasdaq up more than 4% as well. why? well, it began with america s top economic man ben bernanke, bailing out europe which is on the verge of bringing down the economy. former new york stock exchange floor trader, obviously, it was ben bernanke working with other central bank chiefs around the world. this is europe-related? this is definitely europe-related. there s more to today s move than just that but the driver was clearly futures were roaring very, very early, as a direct result of ben bernanke, the federal reserve s move to effectively lower the cost of gaining access to u.s. dollars. why? because u.s. dollars, that s the world s reserve currency. that s what the euro zone needs for their banks and financial institutions to provide a liquidity to tighten sovereign debt spreads. i remember in 2008, everybody was saying this was a crucial moment. we look at europe, the whole world put in a position where we were when lehman brothers collapsed. we
level for the 401(k) s in this country. the s&p and nasdaq up more than 4% as well. why? well, it began with america s top economic man ben bernanke, bailing out europe which is on the verge of bringing down the economy. former new york stock exchange floor trader, obviously, it was ben bernanke working with other central bank chiefs around the world. this is europe-related? this is definitely europe-related. there s more to today s move than just that but the driver was clearly futures were roaring very, very early, as a direct result of ben bernanke, the federal reserve s move to effectively lower the cost of gaining access to u.s. dollars. why? because u.s. dollars, that s the world s reserve currency. that s what the euro zone needs for their banks and financial institutions to provide a liquidity to tighten sovereign debt spreads. i remember in 2008, everybody was saying this was a crucial moment. we look at europe, the whole world put in a position where we were whe