Tuesday, January 20, 2009

Update on the crisis

Banking stocks got absolutely hammered today, losing 20 percent of their value. They've already lost over a trillion dollars, and Nouriel Roubini thinks that have $2.5 trillion more to go.

The Financial Times suggests that the best solution is to "shoot the bankers and nationalize the banks." With friends like those.

Welcome to office, Mr. Obama.

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