The Dow is waffling now after yesterday’s rally…but even with that rally the Dow is still down more than 10% for the year. The economic numbers are still bad. The systemic issues still exist, and the...
Read MoreDuring the bloodiest part of the French Revolution in the summer of 1794, hundreds of people were led to that infamous execution device, the Guillotine. There the condemned faced a nasty, public death in front of their...
Read MoreMarch 17, 2008. The St. Patty’s Day Massacre on global stocks. Bear Stearns, as predicted, is gone for good, sold to JP Morgan for $2 a share. It was $30 a share on Friday, $88 a share on Dec 31 and as high as...
Read MoreFriday’s bailout of Bear Stearns (discussed here) means a couple of thick, fat lines have been crossed. The truth of the matter is this: Bear Stearns is done. It’s on the block, and the Fed’s...
Read MoreThis week we’re now getting a crash course in the greater monetary theory of the Fed in action: Too Big To Fail. TBTF means that the big players in Wall Street are simply too big after a decade of mergers and buyouts...
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