Wednesday, February 18, 2009


Futures are very quiet today which is a nice change from yesterday. A big swoon this afternoon, if it happens, will almost guarantee that we make new lows on the S&P 500.


The U.S. auto industry is on its last legs. They asked for billions again yesterday and might not make it til the end of the year even if they do get this round. Despite the jobs that will be last, the government needs to force their hand soon. They are cutting jobs as fast as they can anyway. I'm not sure why the arrival of an auto czar or an auto panel will make a difference.


The court of public opinion isn't going to like this one. Goldman Sachs Co-President Jon Winkelried headed for the exits yesterday and the WSJ is focusing on the fact that he made $67 million in 2007. I don't blame him for getting out of their while the getting is good.

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