Oil can't buy friends any more as it sinks to levels last seen 5 years ago. The gloomy thoughts about a worldwide recession keep buyers away.
|CLF09.NYM||..Crude Oil Jan 09||...33.87 ||.. 2.35 |
Federal regulators are getting ready to monitor the auto bailout package. Let's hope they know what they are doing.
- How the Feds will Govern GM and Chrysler- USNews.com
Retailers are already preparing for a grim future. Prices are being slashed to attract buyers. One clothing store has a sale: buy one, get two free. Retailers want to sell as much as possible before the holidays because they fear post holiday business to be awful. In addition, they dread more returns in which shoppers will want cash.
The Madoff scandal goes from bad to worse. Now they are tracing it back over 30 years, wondering what happened to checks along the way. The new administration will push for more regulation, something Wall Street is never happy with.
•Madoff Misconduct Said to Date Back to 1970s as Client List Reached 4,000
The major sort of good news was the VIX. It started the day by plunging 7 to 41. As enthusiasm over the auto bailout waned & then the markets waffled near break even it crept back up, closing down 2 at 45. Increased fears surfaced in the PM