• G-20 calls for more regulation; pledges $1T+ in emergency aid
• Oil tops $53 per barrel
• U.S. unemployment hits 25-year high
• FASB votes to relax mark-to-market rules
• ECB cuts rates
• Emerging markets rally on Mexico bid for IMF loan

U.S. stocks rose this week, buoyed by signs that the economic slowing may be abating and by efforts of world leaders to end the global crisis. News this week was dominated by a meeting in London of the Group of 20 policymakers, who called for stricter limits on hedge funds, executive pay, credit rating firms, and on risk taking by banks. In addition, the group tripled the lending power of the International Monetary Fund, expanded its reserves, and offered cash to revive trade to help governments weather the turmoil resulting from the surge in unemployment. Altogether, leaders pledged more than $1 trillion in emergency aid to lessen the economic fallout. Read the rest of this entry »