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Sunday, September 21, 2008

Anything Happen While I Was Gone?

Barry from The Big Picture jokes: "Hey, I took the week off -- what did I miss?"

Well, I am a fool who actually took the week off (in a part of the world with extremely limited Internet / Blackberry access). So what did I miss in poetic form? (note: this is coming directly from 18 hours of return travel so my sense of humor is somewhat completely out of whack)

  • Lehman failed, wasn't bailed
  • AIG is still alive, a taxpayer credit line of 85
  • Morgan Stanley + Wachovia Bank, makes no sense but encouraged by Hank
  • A bailout larger than the war with Iraq, a socialist government that has the rich man's back
Even with all this, Barry shows equity markets / interest rates barely budged week over week (EconomPic'd below)...

However, looking at the how the markets moved on a daily basis (credit markets shown below), one can see just how wild the ride was.