The dollar was mixed against major currencies Thursday as investors were jittery about the global economic slowdown and as the fate of the US auto industry bailout remained in limbo.
I was thinking about the financial mess the other day and I came up with this theory. I'm wary of it because it's comforting, even uplifting, and by definition any economic supposition that has a happy ending is suspect. So with that caveat here goes:
The mantra is "higher risk, higher reward," but the safest bets have given investors the most bang for their buck this year.
Japan stocks fall on grim bank earnings, doubts about fate of U.S. auto rescue.
Bank stocks plunged again Thursday with some of the biggest names in the industry falling to their lowest levels in more than a decade. It's anybody guess when the selloff will end.
Pass the Dramamine. Every time it seems that one financial crisis is resolved, another shoe drops. And it's starting to look like there are more shoes than in Imelda Marcos' closet.
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