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Sunday, October 12, 2008

Another card falling out of the house

Just another Sunday on Wall Street: This week it's Morgan Stanley going down.

Comments (3)

We'll also see the market's response to the low price the Lehman debts (8.625). This means that the insurance on the CDS has to pay out 91.375 on the dollar. Some are saying that debt could be $400 to $600 bn.

Looks like the market believes they are a survivor for now. Thanks to a little help from Japan.


WaPo Oct 15

"'These measures are not intended to take over the free market but to preserve it,' Bush said."

Sound familiar? (As to civil liberties.)

"At Evergreen Federal Bank in Grants Pass, Ore., chief executive Brady Adams said he has more than 2,000 loans outstanding and only three borrowers behind on payments. 'We don't need a bailout, and if other banks had run their banks like we ran our bank, they wouldn't have needed a bailout, either,' Adams said. "

Here is a good article:

October 13, 2008
Congress Should Bail Out of the Bailout
Rescue for the Few, Debt Slavery for the Many

If someone cannot refuse a gift, is it a gift?

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