We just read a scary report on the rgemonitor. We hope that such reports are not true. If anyone knows more about this, please let us know.

Excerpts from a longer article on rgemonitor:

"Situation Report: So far as I can tell by working the telephones this morning:

LIBOR bid only, no offer.
Commercial paper market shut down, little trading and no issuance.
Corporations have no access to long or short term credit markets -- hence they face massive rollover problems.
Brokers are increasingly not dealing with each other.
Even the inter-bank market is ceasing up."

Follow chart showed how things were some 30 days ago. Regulators had time to work on the problem. Why not fix this problem first instead of working on stock equity? This has immediate impact on the economy.


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