°¿°

[AnderL]

the urgency might have been because congress was leaving next week so they held out until congress was under the gun and made it seem like it can't wait till the get back. paulson might not be around by that time because there will be a new president elect.

maybe some investment banks tittering too. with every implosion we get a peak at the toxicity and how wide spread it is, who is infected. only so many more. AIG was critical, when the insurance goes up in smoke then the risk on all CDOs rockets up. valuations plunge further. blows up another batch of banks.

my guess no credit for xmas, sales down. also dow theory isn't working transports still down today. nas and semis underperforming and they signal intermediate bottoms. so this is a short cover financial rally they is giving some sympathy to the rest of the markets. advancers/decliners are not decisively going in either direction.