The stock market is reacting just the way it's supposed to, without waiting for costly bailouts. Even as workers continue clearing the rabble from the former World Trade Center, a major rebuilding effort has already begun just a few steps away, on Wall Street. That attempt, which is far less visible than the heavy equipment at the Trade Center site, is the campaign to rebuild confidence in the stock market, which was shaken to its foundations by sharp price drops after the Sept. 11 terrorist attack. Boosting stock prices is a major, albeit largely unspoken, rationale for two of the "economic stimulus" proposals kicking around in Washington: cutting capital-gains and corporate-income tax rates.
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