Via Peter Tchir or TF Market Advisors
It seems pretty clear that almost nothing from the big October 27th all-nighter is getting implemented. The bank recap program is still a vague notion, EFSF can't find aggressive buyers of its more straightforward bonds, and the leveraging schemes seems to have died on the vine. The IIF seems to be just beginning the process of negotiating what complex security they will create that pretends to be a 50% "haircut". Direct investments from China
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