September 22, 2008

Ahh, the brilliance of the Dallas Morning Snooze on finance

From a story I blogged about in April, the Snooze explains, or puffs, rather how investment bank health is “just around the corner”:
Perhaps the first ray of hope that the banking system might be on the mend came March 18, when two large investment banks, Goldman Sachs and Lehman Brothers, announced better-than-expected earnings. Shares of Goldman, the world's largest investment bank, climbed 16 percent on the news, while Lehman stock rose 46 percent.

If that bit of brilliance wasn’t enough, Will Deener adds this, about these “mending” banks will save mortgages:
Then the banks, brokerage firms and mortgage companies will start packaging those mortgages again and selling them to institutions, which is how the system is supposed to work.

Will Deener, effing idiot.

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