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Current DateTime: 01:21:07 12 Nov 2009
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Current DateTime: 01:21:07 12 Nov 2009
LinksList Documentid: 30456179
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Trader Talk Video Gallery
Discussing the latest deficit data, with CNBC's Steve Liesman, Rick Santelli & Bob Pisani; Robert Samuelson, Newsweek & ...
CNBC's Bob Pisani reports on the trading day from the NYSE.
CNBC's Bob Pisani reports on the trading day from the NYSE.
Bob Pisani reports on the trading day from the NYSE.
Bob Pisani reports on the trading day from the NYSE.
CNBC's Bob Pisani has this week's ETF 101.
CNBC's Bob Pisani reports on the trading day from the NYSE.
Bob Pisani reports on the trading day from the NYSE

Trader Talk

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Dec.06
3:22 PM ET
Thursday, 6 Dec 2007
Stocks Heating Up Over Mortgage Freeze Plan

Stocks have gained steam in the last hour, but particularly after 2:30 pm as Fed Chairman Bernanke came out and gave his blessing to the plan.

Why? Because stock traders are pragmatists. Is the Bush mortgage plan a "rational response" or a "bailout?" The beautiful thing about spending your day with stock traders is that for the most part, while they may argue about ideological issues, they are at heart pragmatists. And what they care about is money.

And here is the bottom line for Wall Street:

--This "bailout" is good for stocks.

--The Street believes that the macro events of the "bailout" will help mitigate the effects of a slower economy.

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