- They release their toxic asset, er, "legacy loan" plan to reasonable acclaim, save Paul Krugman.
- The stock market jumps 7 percent on the news of the plan.
- February home sales had an unexpected uptick.
- Some AIG execs are returning the bonus money.
- And more Madoff assets are found.
Tell me when it happens...
1 comment:
I wouldn't get too excited just yet, my bro: there's plenty more bad news on the way. Forget about the stock mkt; the key indicator on the economy is going to be when job losses drop significantly for a few consecutive weeks.
(btw: Timmy's plan *is* a monumental free ride for hedge funds, but under the circumstances I think it's a decent play of a bad hand. I think Krugman, et al, are horrified from an economic standpoint, but are missing some of the real world interlocking biz problems that TG is facing.)
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