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To: Giordano Bruno who wrote (373798)9/7/2008 12:01:18 PM
From: Cynic 20055 Recommendations  Read Replies (1) | Respond to of 436258
 
Just saw Paulson's press conference on GSE takeover. Even though he didn't say that explicitly, Their common and preferred shares are toast. He said that if any bank capital requirement are in danger due to losses in GSE shares, "contact us."

Saving GSE's debt is a bitter pill I can swallow. And they want to save the financial companies down in the food chain also.

UFB. Unless the dollar an treasuries tank on this news, I think the market will rally viciously for the next two weeks. Serious technical break in Thursday is deliberate - to sucker the shorts in for a major squeeze up.

Irresponsible players get bailed out, pragmatists get screwed. Free markets, my ass!