Black swan

http://zerohedge.blogspot.com/2009/04/incredibly-shrinking-market-liquidity.html

The swan is now ready for flight. I point to the call for Deep puts on the S&P. I not the only one to see something bad is in play. We are now looking at another crash. This one will be bloody and will destory all the Players who listen to CNBC and its cheerleaders.

Meet the new boss same as the old Boss: Obama follows Bush

http://www.salon.com/opinion/greenwald/2009/04/09/tpm/

Since the markets are closed, going with a little polictics today

Tomorrow's headlines: Foreclosure soar

http://zerohedge.blogspot.com/2009/04/california-foreclosures-about-to-soar.html

Also what is up with the shadow foreclosures?

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/08/MNL516UG90.DTL&type=business

Is GE already Broke?

http://www.businessinsider.com/henry-blodget-living-on-planet-ge-2009-4

Firesales underpricing toxic assets

http://www.businessinsider.com/how-can-mortgage-securities-be-worth-so-little-when-houses-arent-going-to-zero-2009-4

Megan McArdle at the Atlantic's Business blog raises two objections.

1 If toxic assets aren't underpriced, we're all in "big, big, BIG trouble."
2 The market prices for toxic assets don't reflect reasonable expectations of cash flows.

My own take, I agree #1 is lament not a response or a attack against the statements.
#2 if I its worth a penny is that better then zero? In the end most of this stuff is worthless or near worthless. The semantics between the two make little difference

Must read of the day: The pension tsunami is about to hit

http://pensionpulse.blogspot.com/2009/04/checkmate-for-pensions.html

This is just another weight dragging us down.

How To Make The World Black-Swan Proof

http://www.businessinsider.com/henry-blodget-nassim-taleb-how-to-make-the-world-black-swan-proof-2009-4

An excellent start.