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Sunday, September 21, 2008

Bailout doublespeak discected.

Two items Sunday night,
First
Henry Paulson was head of Goldman Sachs until appointed to Treasury in June 2006.
This video is a bit.....sarcastic? The first video may not be neutral, but it is much more factual and informative than popular media spin. NYTimes has a mainstream criticism article.



The second video offers a solution is in-line at a high level with my previous recommendations posted here. The video does go into more detail.

Second.
My prediction on Monday being a crash may, unfortunately, be correct. Also, printing cash may yield a dollar crash as I blogged, as per this Bloomberg article. At a minimum Monday is looking to open up down big. Root cause? Options expired Saturday, and its a grab for cash by financial institutions who are allowed to short. The industry did something similar on January 22nd with co-ordination by the Fed. That day we opened down big, then around 10 am announcement was made to "save" the markets.

UPDATE: Press drumming up story that public is mad about bailout. Yea, give this token press as the politicians pass the bill in record time.

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