Well Detroit has three months to restructure under the new $15 billion handout, Sony fires 16,000, Rio Tinto fires 14,000 and slashes $5 billion in spending to lower debt. But things are just swell.
Ace Greenberg the former head of the Bear says the financials are broken and will never be the same again. I’ve been saying that forever now.
So far the futures are bouncing back, The Goddess of Doom, Meredith Whitney is on Squawk Box this morning, let’s see if she brings a reality shot back to the financials.