re: #419 3 wood

Good morning.

The market futures are up sharply, as is the Nikkei and Hang Seng. This is due to the fact that Geithner finally came out of his coma and actually made a decision. His “bank fix” is dependent upon private capital coming in and buying up some of these toxic assets. The problem is, we still do not have a workable way to price these assets, so I really doubt that there will be much interest. Oh, some might buy a few at a sacrificial price of 20 cents on the dollar, but at that price these banks are insolvent anyway

Look for the market to jump, and then for the short sellers to absolutely hammer the market in a big “bear raid” later this week, making their money before the uptick rule is reinstalled and the naked short selling rule is enforced.

No private firm will get into bed with the government after this AIG fiasco. Obama shanked the T- off.