Wall Street Breakfast: Must-Know News [View article]
About 2/3 of the financial industry political contributions currently go to Democrats. Not a lot of ideology there. They understand how the game is played.
Wall Street Breakfast: Must-Know News [View article]
Where is the plan? Obama assembled all of the greatest financial minds and came up with what? Priority One for the Bush administration was stabilizing the financial system after the collapse of Lehman. The first $350 billion of the TARP did a pretty good job of that - albeit by direct infusion of capital rather than by the advertised plan for purchase of toxic assets. So the Obama team has focused on huge spending plans without any apparent plan for the financial system - continue the piecemeal bailout of AIG; continue to discuss some method of buying the toxic assets; continue the drip-drip entry into the auto industry. The markets want to know what will happen. Bad news is better than no news.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
The markets want to know what will happen. Bad news is better than no news.