No pictures or movies today. I'm just glad this week is over.
I'll be on KTLK tomorrow morning for econ 101 with Johnny Wendell.
I'll be back on Monday.
Until then, relax as much as you can and think about anything except the market.
Random Thoughts, Comebacks, Intraday Reversals and the like
42 minutes ago
2 comments:
Bonddad,
Now is the time for a serious discussion of how to solve the CDS mess. There is simply too much money being sucked up by these instruments and the prospect of further credit events in the pipeline. Until we have a realistic solution to this problem I see credit market paralysis and flight to cash.
Can you direct me to anyplace where this topic is being discussed in a reasonable manner. All anybody says now is that we have to have an open exchange for these things gong forward. Well that is obvious as is the fact that going forward swap parties need to have an insurable interest in the positions they take.
Volcker, Roubini, Soros, Buffett, et. al. do not offer any solutions to what they have to know is the bigger crisis here.
WASHINGTON (Reuters) - The White House on Friday dismissed suggestions that U.S. markets would be suspended so international financial rules could be rewritten amid the turmoil that has gripped markets for weeks.
"There are absolutely no plans or discussions to interfere with the functioning of markets in the United States," White House spokesman Tony Fratto said in response to a question about the idea raised by Italian Prime Minister Silvio Berlusconi.
The Italian leader, who is set to meet U.S. President George W. Bush on Monday, later played down the idea.
I bet the markets will be suspended.Some serious shit is going to knock the fan off the ceiling,,watch out below.
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