Psychology of the Call sees more GLOBAL PANIC ahead, especially in Japan and Europe come Sunday night when the Nikkei starts from a new 52 week low printed ahead of the Bear Stearns news
Bear Stearns Bailout Prompts Record Share Selloff
"Bear Stearns has been the subject of a multitude of market rumors regarding our liquidity. We have tried to confront and dispel these rumors and parse fact from fiction," Chief Executive Officer Alan Schwartz said in a press release. "Nevertheless, amidst this market chatter, our liquidity position in the last 24 hours had significantly deteriorated. We took this important step to restore confidence in us in the marketplace, strengthen our liquidity and allow us to continue normal operations." The Psychology of the Call team just sees CEO Schwartz as a little Johnny, just another dog with more money from Benjamin Bernanke; Game On!
Will Bear Stearns fall in to the foundational crack? Read our post from 28 Feb.
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