Wednesday, February 11, 2009

geithplan follow-up

$2 trillion for the bad bank and the markets run scared. as some trader at some firm whose opinion you're supposed to take as gospel says, "There are so many caveats and missing details that it lacks the cohesion and clarity which would be necessary to boost confidence." Confidence was all that this was about; it was the only word Paulson and Bernanke could say. They almost considered copying Europe's inflation policies in order to pump air in the old c-balloon. Do I sense a tremendous waste on the horizon, one prompted by one man's romantic history with Wall Street? It's days like this that I wish for four padded walls and a leather jacket.

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