The Financial Sector As We Once Knew It Is No More

Interesting graphic from the WSJ depicting a timeline of the various interventions (and their cost) into the markets executed by the government over the past week or so:

Graphic courtesy of the WSJ

A truly historic eleven day span to say the least, and it possible that over the next week we’ll see even more (and bigger) bailouts in the form of RTC 2.0; the financial sector as we once knew it is no more and it’s quite possible that the same will be said for American style Capitalism as well.

Speaking of historic check out this story from NPR’s marketplace that discusses the phenomenon of “negative yield treasury bills”, that’s right T-Bills with a negative yield.

If that doesn’t say that insanity has gripped the financial world I don’t know what does.

They say “may you always live in interesting times”, well call me a boring but I’d prefer them not to be THIS interesting.

You can read more from the WSJ here.

Disclosure: at the time of publishing the author didn’t own a position in any of the companies mentioned in this article; the ideas expressed are solely the opinions of the author and shouldn’t be viewed as financial or investment advice.

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