Greece to Be Saved…Again

Today is the day that finance ministers in the euro zone are going to decide exactly what to do with Greece. If you’re keeping score, this is the second time they’re trying to settle this question once-and-for-all. The hard part is to get the people Greece owes to accept the idea that they’re not getting all of their money back. Rough, I know. The early indications are that the bondholders are going to get about one-third back. I’m actually surprised it’s that high.

The market is basically unchanged so far this morning. I see that Ford ($F) seems to be extending its gains from last week. It’s good to see that investors are ready to dump all the profits they made recently. Tomorrow is going to be a very big earnings day for us.

There’s also talk of when the Fed will embark on its third round of quantitative easing. Frankly, I’m a doubter. Not only is it politically unpopular, but also it may not be needed.

Posted by on January 23rd, 2012 at 9:45 am


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