Well Detroit has three months to restructure under the new $15 billion handout, Sony fires 16,000, Rio Tinto fires 14,000 and slashes $5 billion in spending to lower debt. But things are just swell.
Ace Greenberg the former head of the Bear says the financials are broken and will never be the same again. I've been saying that forever now.
So far the futures are bouncing back, The Goddess of Doom, Meredith Whitney is on Squawk Box this morning, let's see if she brings a reality shot back to the financials.
Wednesday, December 10, 2008
The Bulls Retake the Hill
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
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