The market was trying to comeback.....until Paulson made a speech.The DOW finished down 443.00. Every time one of those windbags gets on TV, we hit a new low.
It's funny, the only green on my watchlist was The Royal Bank Of Scotland, GM and Ford.. ??? ???
It's on it's way to 2000.
Warren Buffets Bershire Hathaway dropped 6,500 points today. Its dropped from 120k to 77k just in November. Ouch.
In other news, sounds like GM has bankruptcy paperwork filled out and will declare on Monday if something doesnt shake out.
I hear both of them are looking to become Bank Holding comapnies to access TARP funds without or without direct bailout. disgusting.
Seems Paulson said something interesting about GSE debt not being explicitly guarenteed. humm.
I'm beginning to think that big G20 meeting last weekend that the news reported as "nothing special happening" was indeed quite significant. I think our treasury got told no more and are waking up to the idea of being able to fund themselves. That would explain the 10year action. and IRX at 0.005 LOD? wtf?? Todays speech was some fine bluffing to wake up China.
If its for real, hello Dow 5k.