Solarbird (solarbird) wrote,
Solarbird
solarbird

  • Mood:

there is no learning

Waiting to see what final numbers appear out of the Lehman auction. Early reports say about what I had heard as the concensus, tho' Bloomberg is indicating that it's worse than their concensus. I dunno, I was seeing 10¢/dollar estimates as consensus yesterday, I'm seeing 9.75¢/dollar today, that smells like rounding error. TED at 4.62 from 4.65. That's up.

They're suspending mark-to-market accounting rules throughout the banking system. There's already no trust; now that mark-to-fantasy is back in full force, does anyone think trust will improve?

US stock markets are considering a three-day shorting ban on any stock falling 20% in a day.

Hm. Stock market is liking something. I wonder if they have the news and it's good?

...

It's not Lehman:
Final Results of the Lehman Brothers Auction, Friday 10th October 2008
Final Price: 8.625
That's bad. Will eta with URLs once verified.

eta: Verification. Multiple sources, actually. That's around US$365.5B that needs to come out of ... somebody. Well, a lot of somebodies. I'm hearing that a bunch of this was compromise-settled in advance but I don't know how that would work.
Tags: economics
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