Monday, November 05, 2007

a big loss means time for a new boss

November 5th,2007


While Putkin signs the pact of steel with Iran, the US congress gives peace a chance and stages a sit in, forgoing medaling in the life of their fellow citizens for a short while. But one member of congress was working and he was putting the finishing touches on his (Charley Rangel) 1 trillion dollar tax increase proposal, who says politicians don’t need more time off.

Can you say bubble, China now boast many of the world largest corporations by market cap, but no irrational exuberance here …yea right. Look out belowwwwwwwwwwwwwwwww

Financials continue to pressure market, looks like when it comes to the sub prime debacle, its best to think of the cock roach theory, there never is just one…looks like more unraveling to come .I know I was slow to the party on this one but financial institutions look to continue for some time to be trying to quantify the risk on this one. Look out below….

The Yankees and Merrill Lynch have something in common a big loss means time for a new boss. Housing continues to show weakness and oil moves ever higher. Yet despite the proclaimed demise of the consumer Master Card had huge earnings and the 3rd quarter GDP was better than expected and Halloween candy was sold out by early October.

Oh the irony of it all, Congress wants to punish executives for poor performance and tax payers would like to impose the same rules on congress, we can only hope ….

James J Foytlin

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