Monday, December 3, 2007

Finito on the housing and sub-prime bears

It's over. Finito. Treasury's plans announced today to help the mortgage market means the Fed, the Treasury and the government are engaged. It doesn't matter that the Cassandras will say it won't help. They are wrong. But I'll let Hemingway, in For Whom the Bell Tolls do the speaking for me.

"So the president of the Club reached the end of the speech and then, with everybody cheering him, he stood on a chair and reached up and untied the cord that bound the purple shroud over the head and slowly pulled it clear of the head and it stuck on one of the horns and he lifted it clear and pulled it off the sharp polished horns and there was a great yellow bull with black horns that swung way out and pointed forward, their white tips as sharp as porcupine quills, and the head of the bull was though he was alive; his forehead was curly as in life and his nostrils were open and his eyes were bright and he was there looking straight at Finito."

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