walkitout (walkitout) wrote,
walkitout
walkitout

busy weekend, despite markets being closed

Looks like Australia and the Euro Zone are attempting to come up with a coordinated plan to guarantee bank deposits and interbank loans. The Morgan Stanley/Mitsubishi deal continues, without any federal involvement. GM and Chrysler are in talks?! But that's been going on for a while, and R. is highly skeptical. I think splitting the financing arms and combining them, and the manufacturing arms and combining them, probably make about as much sense as any of the available options at this point -- but you won't see _me_ buying them. Knowingly. One never knows what the funds one owns are doing until after they've already done it.

Big news coming in London, but the exchange is supposed to open as usual. Big bailout in Germany. Hank has decided to use his $700 billion to buy preferred shares. Surprise. Not. I'm waffling between, did he just pull a Tar Baby? and Judas Priest he really _is_ stupid enough to argue against something that once he had it he realized was really pretty cool and useful. Which is the standard dilemma associated with any attempt to understand what this administration is doing: Are They Really That Stupid? Or Are They Really That Criminal? Will we ever know?

ETA: Oh, and a couple more bank failures.
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