In a world full of stupid things, the only thing you can do is roll up the bottom of your pants
Tuesday, May 13, 2008
You Heard it Here A Long Time Ago
A Bloomberg article details how banks still have billions of dollars in unrealized losses related to the sub prime meltdown. Fortunatly? Unfortunatly? The foreign sovereign wealth funds from places like Abu Dhabi are probably going to cut their losses and see if they can cherry pick some low hanging fruit later on.