Be sure to give the receipts with your gifts. May be a lot of turning them in for cash.
Looks like Munchkin’s ill-conceived efforts to spread calm on Xmas eve backfired.
Who could have predicted that answering a question about bank liquidity sufficiency that nobody was asking (except for those of us tracking GE and DB) would have backfired so spectacularly?
For the day:
Dow – 653.17 points
S&P – 65.52 points
Nasdaq – 140 .08 points
Russell -25.16 points
Oil – $3.06 (-6.71%, to $42.53)
Out of all of those, the oil crunch is going to bite first and hardest. There will be a wave of defaults starting in Early January as those weaker players who failed to roll in November and could not secure new funding in December go bust in Janurary.