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  • Wall Street Breakfast: Must-Know News [View article]
    Market rallying on bad retail numbers. High end retailers up, middle class retailers down more than expected.

    Consumer defaults hit new high - what did they expect, people to NOT follow the example of debt spending by the banks and government? More moral hazard to follow.

    CNBC reported that strangely enough consumer spending in California was up. Hmmmm....perhaps their belief in the recovery and debt spending is back in full swing, and debt spending back in style? California has always been good at living for the moment.

    Dodd's Detour - Dodd's attempt is one to politicize regulation, put it in control of White House/Congress and take it away from the bankers (ostensibly). Of course, if the politicians are bribed by Wall Street - the appearence of regulation "by the people" is there - but the reality is hidden. So...this is classic Dodd/Frank Roman Senate maneuvering.
    Nov 05 11:33 am |Rating: +3 0 |Link to Comment
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