May 5, 2008

RATS! THE HYSTERIA IS WANING....:

Success Breeds Failure (Paul Krugman, 5/05/08, NY Times)

Cross your fingers, knock on wood: it’s possible, though by no means certain, that the worst of the financial crisis (more...) is over. That’s the good news.

The bad news is that as markets stabilize, chances for fundamental financial reform may be slipping away.


...and the Left didn't get to permanently wreck the economy....

Posted by Orrin Judd at May 5, 2008 3:15 PM
Comments

The Sage of Omaha has declared that we are in recession. Absent other evidence, I suspect that means the economy is starting to improve.

Like many big banks, exposure to derivatives has put Berkshire in a vulnerable spot. And any improvement in the dollar makes it worse for them (due to Buffet's bet against), so if the Fed is done with its rate cuts, Berkshire may respond worse than the rest of the market.

Posted by: ratbert at May 5, 2008 10:27 PM

Buffet has more than likely unwound most of those positions.

Posted by: Mike at May 6, 2008 7:13 AM
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