After the announcement on Tuesday, DJIA stock tumbled 4.62% to 7888.88. (Very auspicious number as "8" sounds like wealth in cantonese")
I guess this is the typical buy rumor and sell news. Unfortunately, i am LONG as i was quite optimistic about the plan. I gave it a long thought on how private investors are going to be actively involved in the "bad" bank concept. I was hoping for greed to win the day. LOL
It is highly that risky debt will be priced cheaply and it will be a good buy long term for those with deep pockets and steel guts. The idea of nationalizing banks will be foolish as that will wipe more capitalization off the market in a single puff and would send DJIA into a tailspin into the abyss.
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