Update 1:20 PM - 4:00 announcement on toxic assets.

Per CNBC, the government will hold a 4:00 presser on how to clear out all the derivatives on the books of the banks. The CFTC (Commodity Futures Trading Commission) will be part of this process the way it sounds. Details are slim, and I can't even find a link online for this news. I can't tell if how the market digested this, the S&P was hitting the 884 resistance/support at the time of the news. The index did go up from this, but I don't know if it was from the news or the technicals.