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and Wamu comes in with a more than $3,000,000,000 loss
Posted by Yeti on 7/22/2008 4:33:42 PM
In Reply to: Wachovia loss $8.9 Billion, cuts jobs, Mortgage Unit posted by carl on 7/22/2008 1:35:58 PM
Meanwhile, the market continues its insane re-bound because Oil dropped $3/barrel, and the 'low end' of the Freddie/Fannie bailout is announced to be $25,000,000,000 with 'just a chance' that it will cost 'somewhat more than' $100,000,000,000.

Things are looking more irrational every day.

Dow needs to be in the 10k range and flat with low volume before I think the market is trading rationally. People are trading on pixie dust, and a mentality that goes something like '9 billion in losses? Well, it could have been 15 billion in losses! Hell! Lets buy that stock!'

Yeti

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