This comic says a lot. Hopefully a relentless focus on the embarrassing facts to date will keep up the political pressure to urge some necessary reforms and prosecutions. (Hat tip: JM)
And while the risk on traders roar this morning, last night’s Q3 earnings miss and negative outlook from economic bellweather Alcoa goes largely over-looked by the broad market. Alcoa is generally thought a leading indicator for the economy and the market cycle and as shown below is now down 46% since April, but hey, the EU says it can borrow more money to bail out its failing banks…party on. And the recession?