Come on Hanky. Get that PPT going! Hop to it old boy! Get us out of this mess! Get those printing pressing going!
So Lehman will still probably get bailed out tonight, maybe not until the last moment. Paulson says no taxpayer loot this time, but ah, our friend Moral Hazard doesn't think so. It's called precedent, and Paulson screwed that pooch.
So, who's gonna be next Sunday night's announcement?
Gotta love a good Hail Mary pass...
Barclays Withdraws From Lehman Talks Over Credit Guarantees
Fed's options limited if Lehman talks fail
[UPDATE 1 - 8:36PM GMT - STILL NO BAILOUT OR BAIL-IN FOR LEHMAN. THIS MAY BE THE MOST IMPORTANT NIGHT IN THE HISTORY OF CAPITALISM. IF NO DEAL IS ANNOUNCED IN THE NEXT FEW HOURS, AND PAULSON IS TRUE TO HIS WORD, THEN THE ENTIRE PONZI SCHEME WILL COLLAPSE AS THE COUNTERPARTIES PANIC AND UNWIND, AND THE TAXPAYER'S FANNIE/FREDDIE AND BEAR BAILOUTS WILL HAVE BEEN FOR NOTHING]
HERE'S A GREAT PIECE BY ROUBINI. READ ONLY IF YOU'RE IN THE SHELTER
September 14, 2008
Uh, it's 6:45pm GMT, Asian markets open later tonight, and PAULSON STILL NO SUNDAY NIGHT LEHMAN BANKRUPTCY OR BAILOUT ANNOUNCEMENT FOR US?
Posted by blogger at 9/14/2008