Talk about a massive bull trap. Banks last night announcing more billions in writedowns and financials having to perform stock dilutions by the billions just to survive. But whoo-hooo, they didn’t go completely under!!! Its the obviously the end of the credit crisis now that UBS and Lehman live to see another day. Everythings awesome so everyone get out there and buy-buy-buy! I’m sure this afternoon Kudlow will declare this was a goldilocks rally and credit crisis is officially over.
Yep, the pump monkeys are dancing madly.
Don’t look at the trillions in derivatives and the 1T in HELOCs that are probably not collectible at this point. Not to mention the still-falling RE valuations and such.
The taxpayer will make everything good and we can go back to the party now.