Out of Treasuries, Into Stocks? “Obama Warns Trillion-Dollar Deficit Potential”—The New York Times (Jan. 7, 2009) “Suddenly, a Markets Turnaround”—The Wall Street Journal (Jan. 7, 2009) The stock market is famously forward-looking, so it’s certainly possible that the rally the last month or so — up 10% to 20% from its lows, depending on the...Read More
Bailout Money Bolsters Banks Against Prospective Losses?“A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be. “ –Wayne Gretsky It’s a stretch to compare Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson to the incomparable Wayne Gretsky; their ad hoc and inconsistent handling...Read More
