The Spread Trading article has now been updated:

“Congress continues to wrangle over the Paulson plan but you have to believe that some form of accord will come out of Capitol Hill by the end of today. We can expect wildly gyrating markets over today’s session as rumour and counter rumour permeates through the closed doors where negotiations are taking place.

“Several Republican Senators (let alone the odd Democrat) are unhappy about being bounced into such a serious action with so little information. It is often the small print on which actions such as this flounder and the plan has hardly been thought of just yet let alone enshrined in law. It might be some while yet, even if there is broad agreement, before the first loan is acquired by the ‘Bad Bank’. To concentrate their minds the Fed wiped out the… ” read full article >> Spread Trading.

Good Luck!

DB

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