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April 2008



Buy My Loans...Please!

April 07, 2008 – Comments (4)

Wouldn't it be nice if you had your own personal lobbyist, and you could get from congress or the Fed whatever you asked for?  Over the last few days, student lenders have asked for their own personal bailout, as problems in the aution rate market have stifled new loan activty, and congress has cooperated - last Thursday legislation was introduced "that would allow the Department of Education to buy student loans from lenders in need of new capital."  It would also allow the Department of Education to make emergency student loans and "the education secretary said the department has determined the emergency Treasury advances would be mandatory and not require a congressional appropriation."  [more]



Mommy, Are We There Yet?

April 06, 2008 – Comments (5)

Are we there yet?  That seems to be the theme over the last few weeks – since all of the major market indices made a short term bottom on March 10th (or the 17th on an intraday basis), all the talking heads are starting to believe that was indeed “the” bottom, and we can resume the 5 year bull market that stalled in October.  The Fed/administration officials keep using the standard lines - the “fundamentals” of the economy are strong and the consumer is “resilient”.  I try to think that I am never strictly a bull or a bear (more than half my CAPS picks are outperforms), but rather just an opportunist.  That being said, I do believe we are in a long-term bear market, and any rallies are just “bear market rallies” and should be treated as such.  However, for now let’s play devil’s advocate and state a few arguments for the bull case:  [more]

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