Jun

27

Its all so clear in retrospect that the market went down viciously. It had to be telling the subcommittees that unless they took out the restrictions on derivative trading by the banks that we were in free fall. The final decline to 1063 and dow 10080 today at 1030 was the warning. The scepter of death unless they changed things. The last thing we all want is a cratering economy and stock market before November elections. That's the one thing we can all agree on from Brussels to the Potomac. Let us hope that those very limber people mentioned many times in these posts were able to bring this impending debacle to the members of the subcommittees before they announced the eased restrictions, and that their good deeds were not performed with the just prospect of rewards.

Ken Drees comments:

Right as rain !


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