Have not seen all the details, but it looks like $2.5 billion of private financing and it looks this will be patch and not a solution that will work for a few months. Finally, we have this past us. I think it will be buy the rumor sell the news type of thing so the market will start heading lower.
1310 is critical for the S&P if you are a technical guy. I am not but important to know what matters to others. We tested it yesterday and got saved on the ABK rumor. Now no more CNBC ABK rumors and we should be moving down.
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