Sunday, Mar 16, 2008
Trust no one
BigPicture Blog: 'Remain Calm! All Is Well!'
As today's Times disgusting housing market ramping and last week's BS bank collapse shows, one needs to be very careful about what one believes.
"Within a couple of days after Bear Stearns Cos. (BSC) swore up and down that it didn't have any liquidity problems, it admitted Friday morning that it had a liquidity problem. This despite the fact that Bear had insisted all week that its liquidity wasn't at risk, persistent market rumors notwithstanding. The company said Monday there was "absolutely no truth" to the rumors. On Wednesday, Chief Executive Alan Schwartz said, "Our liquidity position has not changed at all. Our balance sheet has not weakened at all."
As they used to say on "The X-Files': Trust no one." "
Posted by happyrenterz @ 06:26 PM (310 views) Add Comment
2 Comments
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1. hpwatcher said...
I can't see any stories in The Times having that much of an effect. I think the die has been cast on this; each day the news is becoming more and more pronounced. It's fine if The Times wants to take the opposite view...I think it would be probably be a little irresponsible putting scare stories around now...because what is happening is now so, so bad.
Each day the news gets worse & worse.
2. Hyrax said...
Yes, certain DS in cover your butt mode, trying to walk the walk. But he is hand holding on his articles on USA..trust no one.