Not a Black Swan event since this was a predictable and logical outcome of aggressive government intervention into the housing and financial markets. We will not recover until we get the arrogant and ignorant Congress out of the markets. I'm on the sidelines (CD's, bearish option plays) until I see less intervention by the government.
I'm no fan of the Bush administration but we've had a sitting US Senator (Schumer) directly involved with causing a run on a bank. Where is the public outcry? Calls for censure? Calls for his resignation?
Thursday Outlook: Commodities, Emerging Markets [View article]
Tuesday Outlook: Commodities, Emerging Markets [View article]