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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Monday, September 15, 2008

Financial Ground Zero Continues

Between Merrill & Lehman evaporating, in a weekend US went from "big 4" investments down to only "2" (Goldman, Morgan). That is a 50% cut in investment banks in the US. Bear Stearns went down last year, so in a year from 5 to 2. The blog world has it the Federal government "FORCED" BAC to buy Merrill. Talk about living in a socialist country! If true, Capitalism is under attack in the US.
Looks like a big down day. I was about 4 weeks early on this prediction, but it looks like its hear now. :(
Let's hope the leaders institute transparency and lead the market to rebuild confidence in this shell game going on. Unfortunately, if they haven't done it now, I wouldn't hold my breath. Sit tight on you Federal Bonds.

Additional Spin: NJ Governor on news stating need for immediate action by fed. My spin is NJ may have too much to lose as recent events. I still recommend Federal Bonds over state bonds.

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