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Thursday, February 19, 2009

The Market On Thursday

All three scenarios for the DOW and S&P represent different degrees of bad.

Perhaps the DOW can rise but it will take time for it to even hit 8000, and we used to think 8000 was unbelievably bad. Scenario two is that it hovers in the 7000 range where only the very strongest of companies are maintaining their heads above water. Scenario three has the DOW plumbing the next lower realm of Dante's Inferno.

What do we make of UBS hiding account info for US taxpayers. Is this more fueled by the recession or just your average scam.

Reuters: Stock index futures rise; eyes on UBS fallout
Eyes will be on the fallout of UBS's $780 million settlement under which the Swiss bank admitted to helping U.S. taxpayers hide accounts from the IRS.

2 comments:

Glynn Kalara said...

Isn't anything sacred anymore? I'm mean if a billionaire can't hide his $$ in a numbered Swiss bank account what is all the greed good for anymore?

Jim Sande said...

I know, the sheer horror of it all.