Banks lift markets a day after sell-off

NEW YORK - Treasury Secretary Timothy Geithner persuaded Wall Street to give banks another chance yesterday. Geithner's assertion that "the vast majority" of banks have enough capital pulled stocks from a slump that began with a sell-off Monday and spilled over into yesterday morning. Geithner also told a congressional oversight committee that some banks would be allowed to repay bailout funds with the blessing of bank regulators.

Copyright PHILY - Philly.com
Contact Us