Today you can really earn your bacon
Monday, September 15th, 2008Some really interesting news today
LEH files for chapter 11
http://www.marketwatch.com/news/story/lehman-file-bankruptcy-protection/story.aspx?guid={50D06AF4-0AD5-4B38-8206-D4C8D6E62EC7}
BAC buys MER.
http://www.marketwatch.com/news/story/merrill-lynch-bought-b-50/story.aspx?guid={CF19C66B-BEBF-4A50-AA1C-88BDE2D21FAE}
Massive news but a lot of other things have happened and will be neglected as important because they are not seen to be as significant as the bankruptcy and acquisition.
AIG Seeks $40B loan :O
http://www.marketwatch.com/news/story/aig-seeks-40-billion-loan/story.aspx?guid={F588B80C-2D77-43A2-A2B8-85BE4CC2C85B}
Banks setup $70B loan programme
http://online.wsj.com/article/SB122144631339134981.html?mod=mktw
ECB and BOE inject more money into markets
http://www.marketwatch.com/news/story/european-central-banks-inject-funds/story.aspx?guid={FB0CA8CD-48E9-48CC-996B-F219C8027E69}
Fed increases lending facility
http://online.wsj.com/article/SB122143939332934501.html?mod=mktw
Markets are sinking. No one will want to buy today. I’m not sure what to expect in the near tearm but I’m swinging towards an “unrealistic” rebound as loan liquidity gets sunk into the market.
Unfortunately I own some Nasdaq 100 but I’m hoping it won’t be hit too bad since there are no financials in it!