Fiends In Stocks

[DeepBlue1]

It's hard to instill confidence in the big players(getting banks to lend to each other and hedge funds to stop liquidating and start buying again) when it's the "confidence men"(con men) that need to be convinced. You can't bullshit a bullshitter! And it's awfully hard to con a con, especially at their own game.

LIBOR rate is actually up today.

Every 600 pts in the DOW is roughly another $1 TRILLION in wealth lost.

Credit Default Swaps total roughly $54 Trillion.

Tomorrow the fed attempts to give some transparency to these "toxic asset values". I believe they're going to begin to attempt an auction of Lehmans' MBS's so we MAY begin to get some idea of what we're really up against. I dont think it's gonna' be pretty.

Fed is talking about following the new European model and is considering buying stakes in all the banks.(AIG MODEL) Good for the American taxpayer in the long run?...maybe, depending on what prices are paid for the shares and then what the market does over the next several years. In the mean time it's going to consume a huge amount of our capital which probably "ain't so great" for the taxpayer.

NAKED SHORTING may finally be exposed for what it really is. We may eventually find out how many multiples of actual shares ever issued have been traded all these years and I still think this unraveling may be related to NAKED SHORTING.