"History is a wonderful thing, if only it was true"

Monday, March 24, 2008


Heard this on CNBC this AM

Art Cashin on the takeover of Bear Stearns
Fear was that there were $14 Trillion on outstanding "counter trades"

If major dealer closed up, who knows how far the damage would have run.

Not recession fears, but credit market lock-up/freeze-up

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