Bear Stearns doom and gloom
Over on Nuclear Phynance I predicted that today would be an “interesting day”
Posted July 8, 2007:
All I can add is that I think July 16 will be an interesting day
The reason being that Bear Stearns was suppose to report their losses today and I thought they would be a lot worse than people expected. From Reuters:
I was out running errands this afternoon so didn’t have the pleasure of staring at my computer screen all day. In fact, I even went for a jog while waiting for some car work to be done and nearly gave myself heat stroke. As far as I can tell, Bear Stearns has not reported yet, but it seems some people are expecting bad news.
That itself may not be too newsworthy, but you must check out the charts summarized neatly on The Big Picture (Did I say I love that guy?)
Here an excerpt:
Very ominous charts (all via Markit):
I particularly like his comment right after pasting these charts:
Maybe there is a problem at Bear Stearns.
You think so?