Saturday, July 18, 2009
Thursday, July 16, 2009
Here are some commentaries on this and other stories of the day:
Foreclosures continue to skyrocket. Remember this is collateral for the banks:
However, usa home builders sentiment rose last month for the first time:
CIT stock plummeted today to 38 cents as the Feds have decided not to bail these guys out.
Now the bondholders are meeting to convert their bonds to stock:
CIT is the largest bank dealing in factors ie. they lend on receivables. If these guys go bust tomorrow it will be very difficult for millions of clients to get new lines of credit. This will be worth watching!!
I will leave you with this funny parody of Wall Street:
see you on Saturday