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You're not alone but we seem to be in the minority. The IOUSA's addiction
to tax/spend/borrow/consume/entitle looks to be enjoying one last giant fix.
A previous post indicated that the ban on short selling in 799 financial
stocks was only for "naked" short selling, but that is not at all how I read
the "emergency" order. In fact if you do a search for "naked" you will not
find a single occurrence. Also lost in the shuffle is a new
"anti-speculation" bill Passed by the House with what looks to be a
veto-proof majority
(http://money.cnn.com/2008/09/18/news/economy/oil_speculation.ap/index.htm).
These are certainly exciting times to be a trader but when you look at the
bigger picture it isn't pretty, and one has to wonder if we just might be
addressing each other as 'comrade' soon.
----- Original Message -----
From: "Code 2" <Code2@xxxxxxx>
To: "Realtraders List" <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, September 19, 2008 9:12 AM
Subject: [RT] Money markets get a lifeline
> "The Treasury Department and Federal Reserve took steps Friday to help
> stabilize the U.S. money market fund industry .... The Treasury said
> it would guarantee up to $50 billion dollars for the next year for
> both retail and institutional investors."
>
> The full story is at
> http://money.cnn.com/2008/09/19/markets/money_markets/index.htm
>
> Am I the only one here, or this a new low in moral hazard? I'm gonna
> set up a new government-guaranteed money market fund that will buy up
> all the asset-backed crap circling the drain out there. My new
> government partner and I are guaranteeing a 12% yield. Who's with me?
>
>
> ------------------------------------
>
> Yahoo! Groups Links
>
>
>
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