Random Thoughts: Is The Big One Coming?
The market is rumbling and absent the implicit Government guarantee—which differs from the explicit guarantee we saw on Sunday—the question is simple:Who will step in and save the day?We've long discussed the laws of diminishing ammunition offering that the last bullet would be pointed inward.Using another analogy leaks are springing all over the financial dam and there are only so many fingers to plug those holes particularly after two fingers—the middle one on each hand—were used on Sunday.Faith in the system--credibility psychology perception social mood and risk appetite--is paramount here.We've been watching it closely for a long time but ...
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