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...Geithner hasn't detailed his test, other than that it won't be complete for another month. Worse, officials at the Treasury say the tests probably won't be made public. That will sort out the uncertainty that has driven the stock market down...
...given all the worrisome economic news and negative market momentum, what would it take to turn a market bullish? Says Roth: "I'd become more bullish if I saw traders get very bearish and sell out, taking short interest much higher relative to volume." Beyond that sort of investor capitulation he'd also become more bullish, he says, if there were a big drop in long-term interest rates, especially in corporate bonds, which could prompt investors to shift their focus to stocks. At the moment, he says, it's a waiting game...
Today, Libé has a new benefactor in the form of Edouard de Rothschild, and a new unstarry-eyed editor, Laurent Joffrin. The paper flirted briefly with break-even in 2007 and it's trying to find a way to go post-ideological, sort of. The Net, conferences, French open-shirted philosopher Bernard-Henri Lévy shilling with advertisers - the new Libé will try almost anything. Joffrin even invited Carla Bruni, wife of France's rightist President Nicolas Sarkozy, to serve as celebrity editor for a day, but that was a step too far and Joffrin was forced...
...soldiers. So the most recent army offensive uses a new strategy. The military clears people from every stretch of territory it captures. Those displaced must either seek shelter deeper in Tiger territory or surrender to government forces, which move them into camps. The result is a sort of scorched-earth policy that has helped the army capture and keep control of territory that the Tigers have held for more than a decade...
After two weekends full of upsets, one might have figured that last weekend the Ivy League would sort itself out from this disarray...