I sat in front of my laptop as usual at 9.30pm today, it was market opening time but I started to nervous as prices don't move at all, is it the massive impact by CIT bankruptcy? nope..... day saving ended on Sunday, so the market will open one hour late at 10.30pm instead( SG time), I'm overreacted.
The 101 years old CIT died on Sunday. I immediately think of AIG, FRE, FNM.
It died, and US goverment paid for its intervention on saving it, it will continue pay for the rest. I think it's unsustainable for government to inject huge amount of money to save them. Market has its way.
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