Sound and Fury, from Charles Pennington

October 10, 2008 |

S&P continuous adjusted futures:

03/10/1993 911.0
10/09/2008 912.5

Comments

2 Comments so far

Highgamma on October 10, 2008 4:48 am
Uh, I think the S&P was half that value in 1993.
George Parkanyi on October 10, 2008 1:22 pm
To paraphrase a popular children’s song …

10 banks in the index
and the first one said
“My equity’s gone; the deposits have fled.”
Roll over. Roll over.

9 banks in the index
and the second one said
“The MBS and CDO bids are dead.”
Roll over. Roll over.

8 banks in the index
and the third one said
“The stock price down; another digit shed.”
Roll over. Roll over.

7 banks in the index
and the fourth one said
“I need more cash but they widen the TED.”
Roll over. Roll over.

6 banks in the index
and the fifth one said
“Hank picked another bank to save instead.”
Roll over. Roll over.

5 banks in the index
and the sixth one said
“For the next then years we’ll be swimming in red.”
Roll over. Roll over.

4 banks in the index
that’s all that’s left,
“but not for long cause we’re all bereft”.
Roll over. Roll over.

All together. Roll over. Roll over.

Cheers,
George