Where’s MY Bailout???
By Barry Ritholtz - December 22nd, 2008, 8:31PM
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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December 23rd, 2008 at 12:18 am
Bailouts in Russia, too:
http://www.bloomberg.com/apps/news?pid=20601109&sid=aM71GKiXdzZ8&refer=home
December 23rd, 2008 at 6:14 am
“Things did get worse during that week because confidence was just draining out of the system and in some ways that made it easier for us to talk to the banks and say ‘look we’re all in this together.”
-Chancellor of the Exchequer Alistair Darling
http://news.bbc.co.uk/2/hi/business/7796329.stm
I wonder if I’ll be able to use that same line the other way around when I go bankrupt…..