Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Sunday, September 21, 2008

Bailout doublespeak discected.

Two items Sunday night,
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.

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.

No comments:

Post a Comment