Saturday, October 24, 2009 Gillian Tett: “Was October 2008 just a dress rehearsal?” /snip Second, she indicates that most observers recognize the rally is not the result of fundamentals (duh!) but the result of excessive liquidity chasing assets. /snip From Tett: Earlier this month, I received a sobering e-mail from a senior, recently-retired banker. This particular man, a veteran of the credit world, had just chatted with ex-colleagues who are still in the markets – and was feeling deeply shocked. “Forget about the events of the past 12 months … the punters are back punting as aggressively as ever,” he...