SubscribeDaily Forex commentary for May 11, 2009
May 10th, 2009 • Related • Filed Under
May 11, 2009
Some Relief from the Stress Tests
All hail the free market system.
When short sellers were pounding Bank of America and Citigroup stock into oblivion in February and prices were nearing zero, the pundits were calling it excessive speculation and blaming the hedge funds. Talk was circulating that the uptick rule should be reinstated. “Short sellers be damned” was the battle cry.
Now that the “earth shattering” Fed bank stress test results have been released, investors have discovered that Bank of America and Citigroup are …
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