Tuesday, January 26, 2010

A Day To Get Short

This just crossing the wires. If there is a day you want to be short going into (probably two days before) my guess is February 2nd is that day. lol Paul Volcker will be testifying before Congress on Obama's bank plan.

According to cbs.marketwatch

Former Fed Chairman Paul Volcker is scheduled to testify before a key banking committee on Feb. 2 about an Obama administration proposal to limit the size and trading activities of the nation's biggest banks. Volcker, the chairman of the Obama administration's Economic Recovery Advisory Board, backs the proposal, which aims to deter commercial banks from becoming so large that they put the broader economy at risk and distort normal competitive forces. Volcker will testify before the Senate Banking Committee, which is considering whether to draft legislation based on the proposal as part of sweeping bank reform legislation.

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