WTI back up, everything else down
Sep. 17th, 2008 10:37 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
walkitoutAt least one of the two remaining Wall Street houses is shopping for a bank partner (and has already been rebuffed by Citi), AIG got a 2 year loan and a plan (which is interesting -- all the other liquidity patchwork put together by Treasury has an expiration date of January something 2009), Russian markets have been closed early two days in a row because they're having problems in the wake of the Lehman Holding BK, British antitrust authorities have decided to let Lloyds buy HBOS because of mortgage problems, Reserve Primary broke the buck and, even typing this, I think I need to take a moment to catch my breath.
A couple of years ago, when I was still reading the US edition of the Financial Times and learning a lot more about mortgage backed securities than I intended to, I kept saying to R. that this poison was everywhere, unavoidable and was going to do us all in. I'm chalking up the last few days to a successful prediction.
I talked briefly to my mother-in-law. After covering the usual (no baby, probably no baby for at least another day or so and quite possibly longer, what her upcoming schedule was with Rosh Hashanah etc.), she expressed some concern about how things were for me with the market. Which was really very sweet of her. So far, so good (obviously, like everyone else, I'm down; I haven't bothered to attempt to calculate precisely how much I've lost over the past couple days) and certainly nothing to panic about.
After all, I pulled cash out in May/June in case we bought a house. Here's hoping UBS and Citi don't wind up in too much trouble.
A couple of years ago, when I was still reading the US edition of the Financial Times and learning a lot more about mortgage backed securities than I intended to, I kept saying to R. that this poison was everywhere, unavoidable and was going to do us all in. I'm chalking up the last few days to a successful prediction.
I talked briefly to my mother-in-law. After covering the usual (no baby, probably no baby for at least another day or so and quite possibly longer, what her upcoming schedule was with Rosh Hashanah etc.), she expressed some concern about how things were for me with the market. Which was really very sweet of her. So far, so good (obviously, like everyone else, I'm down; I haven't bothered to attempt to calculate precisely how much I've lost over the past couple days) and certainly nothing to panic about.
After all, I pulled cash out in May/June in case we bought a house. Here's hoping UBS and Citi don't wind up in too much trouble.
back of the envelope calculation sez
Date: 2008-09-18 02:49 am (UTC)Which is funny; 7 percent is what C. said they were down.
ETA: I asked R. if I should worry about this; to me, 7-8% is noise. He notes that that's a _lot_ of noise. More like clatter.