futures now pricing in a 58% chance for a 75bp cut this before fomc meeting
this is way up from 16% friday.
just today, barney franks admit to making mistakes regarding regulations on fannie mae, but did not admit to personal relationships with several fannie executives.
this in insolation shows the problem with the bailout package that has little effect on the markets this morning as indu drops below 10,000.
we have the same officials still runnng the asylum, that is washington. how are the same folks who screw things up going to fix the current problem?
paul
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