Friday, September 12, 2008
Up 6 points on the MLP index which reverses all of yesterday's losses and the prior days closing high. So the dead cat apparently is still meowing a bit. The question for me is...is this a dead cat bounce or a reaction to the end of Lehman and that hedgefund pressure coming off? I would bet on the first.
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joseph cioffi's Source Page - Associated Content
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Anyone have any insight on the massive insider sales at CPNO? I hear very good things about their mgt, but if they're selling down here, it's an issue.
Sept. 12 (Bloomberg) -- The U.S. Treasury Secretary Henry Paulson is adamant that no government money be used to rescue Lehman Brothers Holdings Inc., a person familiar with Paulson's thinking said today.
Wall Street has been aware of Lehman's troubles for a long time and has had time to prepare for any trouble at the firm, the person said. Also, the Federal Reserve now offers an emergency lending program called the Primary Dealer Credit Facility, which wasn't available to Bear Stearns Cos. in March. This will allow for an orderly process with Lehman, the person said.
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