We're actually quite surprised by BofA's move to buy Merrill for $44 bln. What kind of back door guarantees ala Countrywide did BofA get for this latest deal, or is it just a clean stock for stock swap.
AIG needing a $40 bln loan from the Fed (U.S. taxpayers)? Yikes.
Lehman going under? Double Yikes.
We did warn of major troubles ahead in the market... subscribers have been kept up to date. We feel systemic seizure and collapse still lie ahead.
In the last post below on Fannie and Freddie, there's a link to subscribe. As we told those folk who weren't interested in paying for proprietary perspective - Good Luck!