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Wednesday, August 15, 2007

Subprime update, plus Dow and gold

Here's iTulip's scathing video on the sub-prime lenders and special pleading from Jim Cramer; and according to this, it was $323 billion pumped into the banking system in 48 hours, not $266 billion.

The Dow closed down 207 points yesterday, anyway. Perhaps you can't pump up a burst balloon.

And gold, which one would think should have an inverse relation to the market, has lost $5 an ounce, too.

Things do look a little concerning.

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