Eugene David
...The One-Minute Pundit

Monday, January 21, 2008


Word on Monday that the Bank of China may write off as much as $1 billion in sub-prime related losses only reinforced investors' fears that the the sub-prime fall-out has much further to go--even though investors have already wiped more off the market capitalization of the big banks involved than those banks have written down for sub-prime mortgage related losses.

Yep, when the casino herd wants to start a debacle, nothing can stand in its way. Certainly not common sense -- the casino has never heard of it.

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