The Wall Street should have their favorite song : Getting away with it all messed up,that’s the living by James,which is of course a great song.
Citigroup announced today a 9.8 billion USD loss due to the subprime mess!And these people got a bonus a few days ago.
Plus bad economic news and anemic retail sales bring up the recession business cycle again.
As we mentioned before recessions are part of business cycles and we must carefully watch the fundamental elements to see if it exists or not.