The DOW closed down 82 points.
My prediction that we would see a gain over the course of the week fell flat on its face.
The big new news is the idea of "mopping" up bad bank debt.
Hey, its only newly printed money.
Reuters: Wall St. slides as banks offset housing optimism
Even though investors were initially enthused by the news on the housing front, the boost proved short-lived as doubts lingered about how banks will be relieved of their toxic assets.
1 comment:
Securitization is turning out to be a nightmare. It's really nothing more or less then a new twist on the old shell game isn't it? I'd like to see how Tim and the boys at treasury are going to untangle this gordian knot?
Krugman is right the only real way is to Nationalize the banks and then send in teams to fig. out what is toxic. Kind of like what happens after a chemical spill or nuclear accident.
Post a Comment