Tues, July 23rd WSJ (an other business newspapers) slammed "C" (Citicorp / Citigroup / Citibank). Seems they and JPM were the powerhouses behind all these failing companies' "key deals". Seems Artie Andy, Enron, WCOM, and who knows whom else had some smart bankers behind them. Opening Orders on Citigroup were nothing but suckers bets prepositioning for shorting from the market open, promptly dropping well over 3.75 points. Feel free to share your comments on those articles, trading today, and in the implications of such a behemoth getting caught turning tales. One of the many sages' on CNBC / CNNFN said that the difference with this 10x worse crash of 2002 than 1929 is that the banks and banking institutions haven't been involved. Think this changes things?
I want to know why Robert Rubin has been so quit through all this? Another Clintonista in ethical no man's land!
I will save the market. I will bid 100 shares and I will hold it up. When the institutions see my bid they will stop selling and start buying.
JPM is in deep sh*t. But, I'm sure they will be bailed out. I have heard that the fed has been bailing them out of their short gold positions directly and through hammering the price of gold and trying to support the dollar.