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Essentially correct, but the spreads also reflect the difficulty with making new congressional policy on markets. The fear is real. This is too much for Senator Dodd to pass up. No run for the Presidency, but still a chance of making history, so we plow on not knowing what (if anything) will be done, and the markets hate uncertainty.
Sep 23 09:49 am
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All Comments by whidbey »Making Sense of the TED Spread [View article]