I don't think preparation is ever bad. As far as I recall the webbot guys (at least Ure) were/was predicting this to be long range view seen as destructive but short term not as bad at the moment.(As in a defining moment look backwards from the results...)
That said their timing was off if they were counting the event occuring on Monday am, but not if it was linguistically the topic of the water cooler then it could possibly be rationalized. All in all interesting, but by no means definitive. Especially considering the weekend could have passed in silence rather than having a state of emergency called that effects not just one small area as is usually the case but the entire nation...
^^^ Now isnt that reassuring??? Dont you feel so much better? "everything is ok; nothing to see here; move along"
so yesterday my internet was down almost ALL day for no apparant reason; then im watching the fox local news; story about grayson getting grilled; story about last weeks banks closures; story about FDIC 25 Billion in funds depleted last week; then story about Swine Flu & National Emergency; so i yell out to my kid "thats why the internet is down damn nat'l emergency here we go"
Its getting pretty scary when you hear all the above in that order on LOCAL TV news!; so will our Banking Holiday happen over Halloween weekend????
Capmark's BK is starting a trend of large BKs. They filed on Oct 26th. Now CIT on Nov 1. Two large lenders to commercial and retail sectors (one and the same in essence).
Something is in the works and it appears to have started Oct 26. Might not be chaos this moment but that's a bad trend starting. Geithner said on MTP yesterday that he didn't care what happened to AIG after the gov't (Goldman Sachs) gets out. http://www.realclearmarkets.com/articles/2009/03/goldman_sachss_double_dip.html