Rumors of a Rumor

Barry Ritholtz passes this along. The British are apparently concerned over rumors of rumors.
I apologize for the misspellings (favourite?) but these English don’t quite have our language down yet.

Rumour of second bail out rumour coming in Ambac
Word is that CNBC have heard from a source close to the fire escape that the Monolines are worried that there will be no new rumours about possible rescues around until the recent rescues are proved to have failed.
That means that there’ll be no Friday evening prop for the stock markets.
A source close to the industry said that a consortium is “being put in place to work on new rumours but we can’t be sure that these rumours will actually be ready for another five business days.”
News of the rumoured rumour of salvation sent MBIA and AMBAC up .01% in pre-market trading. Hank Paulson was rumoured to be delighted with the patriotic rumours, a source close to him on his lifeboat off the coast of Hawaii said Thursday. Ben Bernake has placed pencils in his ears and is wearing his favourite underpants on his head.
-David McCreadie and Dan Davies

Pity they lost the empire.

Posted by on March 7th, 2008 at 11:44 am


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