Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, January 31, 2008

Ouch

70+k in more unemployment claims.

I heard it again... how the small banks were going to have MBS write downs....

This is stupid... as a bank why would you buy the premium attached to a mbs, instead of loaning more money.

There are some of the small bankers who looked at the securitisation, and thought it was a joke. I'll say it again, this stuff was disclosed quarters ago.... go through conferences, and if they didn't disclose worry.

There are certainly some, who will have some exposure... but nothing like Citi and morgan....
BBT *cough*...


it's a bear run.

but that unemployment number sucks!!!

Well Game on today. See if I put on a short hedge.

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