Morning Bloodbath
Just about everyone took it on the chin this morning, but, of course, the real schadenfreude story we know you care about is Goldman. Well, after hitting $49.00 a share earlier, they've managed to crawl their way up the slime pole again to around $53.00 per share. Right about now Buffett is explaining to some skittish investor somewhere that his investment in Goldman was for the long term, and, anyhow, he gets preferred dividends on his stock. Stick that in your pipe and smoke it, cause this is exactly the situation ole WB was thinking of when he gunned from those dividends.
Dead Cat Bounce after the jump.
$49.00 per share shows an entirely different form of pathetic for Goldman. It's below even their IPO price. *Whack*
Other financial have fared little better this morning. Citi hit $4.76 at one point. Morgan Stanley scraped the bottom of the $9.00 barrel before the worst was over, and we have the rest of the day to go still.
Jobless data is the current target of the blame game. That's as good an answer as any, we suppose.
Developing.
