BOSTON (TheStreet) -- Euro TARP, the plan to save Europe from the sovereign debt crisis by shoring up banks, leads your quick fix of company, market and economic news for Tuesday, Sept. 27.
The Big Story
This Euro TARP thing sounds so, so familiar. It really is déjà vu all over again, and this time with more leverage. [Pragmatic Capitalism]
Despite the madness of the European Investment Bank's involvement, this is essentially a "No More Lehmans" rally in equities. [FT Alphaville]If you want to save Europe, just let the Federal Reserve print euros at will. Problem solved! [Marginal Revolution] Sounds like Treasury Secretary Tim Geithner wants some credit for Euro TARP. Perhaps it's best to see how successful it is first? [Business Insider]
Quote of the Day"As a result of several long-building, polarizing trends in American politics and culture, we have lost the ability to execute even the basic functions of government, much less solve the most difficult and divisive problems facing the country," said former Defense Secretary Robert Gates, on the subject of U.S. political dysfunction. [Washington Post]
Company NewsHacker group Anonymous is doing their best impression of Muddy Waters Research, and their first target is Chaodo Modern Agriculture, an agricultural produce company based in China. [Anonymous Analytics via Dustin's World] Embattled trucking giant YRC Worldwide (YRCW) looks to be in play after Cyrus Capital Partners reported a 20.3% position in the company. [CNBC] Eastman Kodak (EK) is a reminder of how even the mighty, like legendary investor Bill Miller, aren't infallible. [Wall Street Journal] Coca-Cola (KO) thinks China is friendlier than the U.S. [Financial Times] Apple (AAPL) iPad users will finally have a native Facebook application next month. [Mashable]
MarketsHedge fund manager Paul Tudor Jones said the economy is "going to be bleak for some period of time, unfortunately." Considering Jones is a macro-fund manager, this is kind of a big deal. [Memphis Daily News] Silver is back from the dead and enjoying a one-day bull market, up 26% in 26 hours. [Zero Hedge] The key level on the S&P 500 to watch is 1,100. [Market Folly]
Investment StrategyMissing the trade gracefully is as much a part of the craft as executing, says the executive editor of StockTwits. [Phil Pearlman.]
Odds and EndsThieves take the term "bringing home the bacon" too far. To be fair, there's no such thing as too much bacon. [CNBC] People hate Wall Street now, so let's green-light a movie about how Wall Street was totally awesome in the 1980's. [Hollywood Reporter] Readers pick the 30 most influential finance sources. [The Big Picture] Wilco's new album comes out today. Here's an old favorite of mine. -- Written by Robert Holmes in Boston.
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