re: #87 3 wood

Good evening.

It look’s like the bank stress tests will be out late next week.
Bank ‘Stress Test’ Results Due Next Thursday

Look for the market to get rocky later this next week. Also, details of the failed negotiations with Chrysler are starting to leak out. From what I heard on the Kudlow Report, the government ngotiators wanted the Union which had a $10 billion investment to get a 55% ownership share, the TARP banks that had a $10 billion investment to get a 35% ownership share, and for the bond holders (which are a primary security) who had about a $28 billion investment to be happy with only a 10% ownership. The bond holders told the government to go pound sand and they would take their chances in court.

That resulted in their getting blasted by the CIC and labeled as “speculators”.

I will not be surprised to hear them called “money changers” next.

I would not expect the GM negotiations to go any better.

Is the administration’s quick leap to demonize just a bit scary?