Stocks soared today, closing at 497 points. This comes on the heels of the Treasury Department announcing that a new public-private partnership could purchase $1 trillion in toxic assets from banks, allowing them to continue lending. Taxpayers and investors would likely profit from such a maneuver, if the move is successful [Article - Toxic-Asset Plan Rallies Stocks]. Of course, they can no longer be called “toxic” assets…they are “legacy” assets now. Legacy my rosy red cheeks (both sets).