Broad Oak: your emotional support animal

Friday, October 03, 2008

Financial white-water dead ahead

Jesse reports on an FT article from Wednesday, which suggests that the "hurry-up-and-give-us-$700bn" is to do with the need to renew credit default insurances on Fannie, Freddie and Lehman this month - the first two immediately after this weekend.

Maybe I was right, then, when I thought I saw panic in Hank Paulson's demeanour the other night, as he responded to Congress' rejection of the bailout proposals.

Oh, and London Banker reflects bleakly: "The crash in equities will still happen."

2 comments:

James Higham said...

Maybe The Doors' "Strange Days" will be reissued and become a best seller again.

Sackerson said...

Don't know that one. Thanks for your several comments. How are you?