Thursday, August 23, 2007

The! Biggest! News! of! the! Day! - Not Bank of America Investment in Countrywide or iPhone Bill

Here are some of the contenders for today's biggest...news...of...the...day...

  • A $2 billion investment in Countrywide Financial (CFC) by Bank of America (BAC)...
  • A belief that the current Fed, under Bernanke, will not repeat the "Greenspan era of pumping up market bubbles with repeated cuts"...
  • The coordinated moves by Citigroup, Bank of America, JPMorgan and Wachovia to borrow from the Fed's discount window...it is said this is "largely symbolic, aimed at removing the stigma of borrowing from the discount window"...
  • A new advertising system for Facebook that will "allow marketers to target users with ads based on the information that people reveal about themselves on the site"...
  • Optimism on back-to-school shopping...
  • An argument that there is little Bernanke "can do about the information gap behind investors' panic"...it is said "the Federal Reserve hoped to calm nerves and return borrowing conditions to normal. Instead, conditions got worse"...
  • The ongoing embarrassment surrounding AT&T's (T) "300-page, double-sided, excruciatingly well itemized bill" for iPhone usage...if you haven't seen the video yet, you can find it here...
  • Some interesting comments from Todd Harrison, via Herb Greenburg, who argues "This is not a 'wall of worry'. I have never seen option prices this high in big capitalization financial companies...Either the stock market in general is going to correct massively, or the buyers of this protection are really making a big mistake."...

While those are all stories worth watching, I think it is obviously clear that the biggest story is this - Wild West lives on in rattlesnake murder plot...according to the article, "two men have been accused of plotting to kill a man with rattlesnakes to recover a poker debt"...yes you read that correctly - the men "allegedly hatched a plot to cobble a box filled with rattlesnakes and somehow get Sowash to step into the box with the venomous snakes"...

Really? Their plan involved getting someone to step into a box filled with rattlesnakes? Dr. Evil???

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