Investors will believe anything, and so why not tell them any old thing:

Wall Street bounced back on Tuesday from its lowest levels in more than 11 years after the chairman of the Federal Reserve tamped down investor fears that the government would nationalize major banks.

“We are committed to ensuring the viability of all major financial institutions,” the Fed chairman, Ben S. Bernanke, told the Senate Banking Committee. His reassurance on nationalization followed earlier statements from the White House that supported a privately held banking system.

The Dow Jones gained 236.16 points, or 3.3 percent, to close at 7,350.94, erasing most of Monday’s losses.

But facts are facts...

The Obama administration yesterday revamped the terms of its emergency aid to troubled financial firms, setting a course that could culminate with the government nationalizing some of the country's largest banks by taking a controlling ownership stake.

Another important fact:

WASHINGTON (CNN) — Call it a sign of the times. A new national poll indicates that when it comes to dealing with the economy, Americans have more confidence in the White House and Congress than Wall Street, the banks or auto executives.

A new poll says Americans trust the government more than Wall Street to deal with the economy...

"You know times are tough when Republicans have more confidence in a Democratic president than they do in bankers or Wall Street investors, but that's what the poll is showing now," said CNN Polling Director Keating Holland. "Among Republicans, 37 percent say they are confident in Obama's ability to make the right economic decisions, but only 31 percent of Republicans feel that way about Wall Street."