One year into the subprime - mortgage crisis, the consensus is taht we are not even half way through. Wallstreet analysts have been cutting the estimates and the writeoffs of other banks pushing the stocks of the banks to new low levels every day. Todays article in FT has additional information regarding the health of the wallstreet firms. Play - short financials..
Interesting article on the bail out of the Detroit Auto industry. Everything makes sense, but would the US govt be able to bear the brunt of 35000 odd employees that would lose their jobs if the bail out does not happen. Besides, why would Ford, 40% stake holder of F, keep mum when his stake is headed to zero. My take - Buy calls on F. In the current market, no news is good news. If the clouds are cleared, every thing that ford would do would drive the price up. Afterall, its the AMR of Michigan.
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