The market went off the cliff today, and it wasn’t an accident. It was pushed by the deepening liquidity crisis. It seems not even the pigmen have a clue as to how bad things have been and how bad they are going to become. For example, here’s a quote from Morgan Stanley regarding their write off of $3.7 billion in subprime losses, with “possibly more” to come, as reported by Gloomberg, “These exposures did not come out of our client-facing activities, these were a proprietary position we put on. As markets continued to decline our risk exposure swung from short, to flat to long.” WHAT?! Click here to download complete report in pdf format (Professional Edition Subscribers).Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
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