sunday night futures session opens and dow down as much as 3%, similar for spx and ccmp as traders speculate from the lines of limos outside leh headquarters in midtown manhattan that the century old street firm will go under.
yes, analysts have been talking takeover of leh for months now and dick bove especially has been talking rather loud over the last 2 weeks and even saying at $20.
still, before markets open monday, something could be done but perhaps the market need a major failure to finally set a firm bottom. we will all pay for these fluff loans and miscalculated deals over the last decade. it's paying for these sooner that will help the market faster, so what is the fomc and senate waiting for?
paul
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