Solarbird (solarbird) wrote,

  • Mood:

Rumours are scary

Reports of a massive ECB bailout - as many as 1,100 banks at or near collapse, to be bailed out to the tune of €600B. That's... right, right, the Euro isn't what it used to be, I was going to say a cool trillion USD... but it's around US$768 billion with a B. Sound familiar? "We just wanted to pick a really big number..." Zero Hedge supposedly has the rumour but they're swamped, I'm still trying... finally! Here's the link. Good luck getting to it.

Marketwatch reports that Penske Automotive is cancelling a $200 million debt offering. I don't know whether it's indicative but it's one of several fundraising aborts in the last couple of days.

The TSX is taking today pretty hard, as energy stocks get kicked around.
Tags: economics
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