They are calling it a ‘floor’ :
Pakistan set a floor for stock prices on the benchmark exchange, moving to halt a plunge that has wiped out $36.9 billion of market value since April.
Securities can trade within their daily limit of 5 percent “but not below the floor-price level” of yesterday’s close, the exchange said on its Web site, without giving details.
Stocks can no longer go down - it’s the “ No Loss Sale Rule “, and not so cleverly disguised. Imagine the order imbalance that would occur in a real marketplace!
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One time battle: water skiers vs. brown trout fryFrom: feeds.feedburner.com
Post Date: 2008-06-25 09:43:47
Only happened once because the trout are now dead!
Wyoming Gov. Dave Fruedenthal figured ten water skiers in Lowell were more important that tens of thousands of young brown trout. He ordered the flows to the Bighorn River cut to 1,500 cfs (i.e a trickle), and now an entire year’s worth of wild fish are gone. Adding insult to injury (actually, death), the spring spawning rainbows had to move someplace else too. A further blow (as if you needed one) - within ...
more Mortgage VIPsFrom: feeds.feedburner.com
Post Date: 2008-06-25 07:23:58
Via WSJ :
Do all Washington politicians get their loans directly from CEOs in the mortgage industry? Readers might be wondering after learning about Countrywide Financial and its VIP treatment for Senators Christopher Dodd (D., Conn.) and Kent Conrad (D., N.D.)…
Mr. Conrad then recounted how he came to receive preferential treatment from the country’s largest mortgage lender. The Senator evidently believes that his latest version of events, in which he gets a sw...
more Grab those life rafts - ‘financial tsunami’ on the way?From: feeds.feedburner.com
Post Date: 2008-06-25 07:12:47
Via Bloomberg :
Rising consumer prices will leave more U.S. consumers unable to pay their debts and may lead to a “financial tsunami,” according to Bennet Sedacca, president of money manager Atlantic Advisors LLC in Winter Park, Florida…
Sedacca wrote that current financial-market conditions remind him of “someone standing on a lonely beach, armed with only a small bucket, trying to stop a rare tsunami that hits the shores. It is how I feel about our markets and the...
more Cookies from the neighborsFrom: feeds.feedburner.com
Post Date: 2008-06-25 20:04:48
My neighbors’ four year old daughter made cookies today. The family knows I fish.
Rainbow trout and Bluefish
A couple of Stegasauruses too, although I don’t think anyone makes tippet for those.
I’ll note I’ve never see fish disappear so fast - they must have known I was coming .
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