Here is your Crux PM update:
Banks' "shadow inventory" of housing could destroy the market
"We believe there are… 600,000 properties nationwide that banks have repossessed but not put on the market."
Ken Lewis calls Fed a "hero," says BofA doesn't need more cash
Opposing an analyst who today said the bank needs $36.6 billion to survive...
GM dives back into subprime loans
How quickly they forget...
Chanos responds to uptick rule proposal
"Short selling is integral to improving the efficiency of markets and enhancing market quality…"
Bernie Madoff to address Wharton's class of 2009
Update: This story's a fake... still amusing, though.
Agribusiness giant, J.G. Boswell II, "The King of California," passes away at 86
A great obituary in the LA Times.
Famed market guru calls Jim Cramer a "buffoon"
"And after all this mess and Jon Stewart he should just shut up because he has no shame."
Regards,
The Daily Crux
www.thedailycrux.com
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