Thursday, September 18, 2008

More rumblings

When I wrote the first "rumbling in markets' tummy" post back in March, it was kind of funny. Today, when a however much liquidity was injected today was injected (it all starts to run together), the markets went up, but have come back down by lunchtime, hungering for more. I think a deal (Morgan Stanley/Somebody, Wamu/Somebody, Berkshire Hathaway picking from the carcass of AIG, Steven Schwartzman on a black horse) might sate the markets for half an hour or so. But then that gnawing hunger will return, and the markets will poke at the little red spot on Paulson's beak like baby gulls begging mama for regurgitated goodness.

The other interesting thing is that, back in March, Bernanke was still a player, but now it's the Hank show all the time. Was Bernanke cast aside as too bookish? Perhaps he's holed up in the bunker with Cheney alternately playing poker and conferring with the Trilateral Commission, the Council on Foreign Relations, and the Elders of Zion.

1 comment:

Anonymous said...

Thank goodness the Greenberg's poor accounting practices, RICO convictions and opaque derivative valuations didn't hurt AIG enough to require a government bailout, we needed a real crisis to put our tax dollars to work.