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Nov
10
Merrill Lynch Pigs About Mortgages
November 10, 2008 | 3 Comments
Merrill Lynch, as a revered investment bank, don’t know what the f*ck they are doing with mortgages, yet they go around advising clients and selling mortgage based securities. What chance do retail investors have when their trusted adviser is flying blind in its pursuit of profits?
Sep
24
Investors Uncertain As Bailout Plan Stalled In Midtrack
September 24, 2008 | 1 Comment
Since Monday, the “Paulson Plan” has been thrust into intense debates at Senate hearings as Democrats and Republicans unite in their dislike of this mind-numbing $700 billion bailout of the nation’s financial system. I find such actions amusing, if not hypocritical.
Sep
19
Stock Market Bolstered By Bailouts
September 19, 2008 | 4 Comments
In the past week, we have venerable investment banks Lehman Brothers folding and Merrill Lynch merging with Bank of America, leaving Goldman Sachs and Morgan Stanley as the remaining bastions of independents on Wall Street.
Next, the Federal Reserve announced a $85 billion loan to insurance giant, AIG, allowing them breathing space to liquidate assets in […]
Sep
3
Plunge In Oil Prices Claims Another Major Casualty
September 3, 2008 | Leave a Comment
The US dollar, inspired largely by plunging oil prices and growing pessimism over the economic health of the EU and the U.K, is going gangbusters of late. It traded at $1.4455 Wednesday, a seven-month high against the euro.
On the other hand, oil prices continue downwards to $107.48 a barrel, as Hurricane Gustav’s path of destruction was […]
Aug
5
Dow Jones Rally By 331 points
August 5, 2008 | 1 Comment
The Straits Time Index was down 15.57 points to close at 2860.51 Tuesday, a relatively muted response (fortunately) amid regional markets turbulence.
The stock market desperately needs a stimulus and what better than to see Dow Jones rallying by 331 points, reversing 3 consecutive loss sessions. S&P 500 and Nasdaq were also up nearly 3%. Financial […]
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