It’s A Headline Market Right Now

Standard and Poors came out and opined that most or half of write offs by the banks are done. Isn’t a bottom put in a little further along in the unwinding? Do you think Carlyle Group was the ONLY hedge fund that abused 35-1 leverage? I don’t. Barney Frank actually has a plan out there,introduced today,that could actually could be a game changer, but we will have to see what kind of traction it grabs in the days ahead. I have to give the bulls this one but remember past rallies and how they ended. The market couldn’t rally on it’s own today and needed a headline catalyst to prompt it. Just more short covering I think.

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