Monday, October 20, 2008
Financial Crisis not over yet
Since the Treasury Dept finally is directly loaning to banks and taking an ownership stake, finally making the right move, there is some softening of the crisis. Although the Ted Spread is down below three and banks appear to be making some loans, there are still a lot of foreclosures to go and a lot of worthless credit default swaps out there. Unemployment will still go up. Bad news for those looking for work.