Sunday, September 14, 2008

Just Making Stuff Up

MarketWatch, The Washington Post, and Dealbreaker are reporting various pressures on making a deal happen with Lehman before Asian markets open for Monday trading.

Here's the problem: Major Asian markets are closed on Monday
Japan: Respect-for-the-Aged Day
China: Mid-Autumn Festival
Korea: Harvest Moon Festival
Hong Kong: Mid-Autumn Festival

Just which Asian markets are causing pressure? This tells me that reporters (or their sources) are just making stuff up to sound like they know what is going on.

So maybe a deal happens or maybe it doesn't, but it has very little correlation with the stories that are currently being published in the main stream media.


Anonymous said...

And in the US is it gonna be Respect for Dead Financial Behemoths Day? Celebrated by helping your neighbors move out of their foreclosed home, of course.

JP said...

I think it's even more likely that the US will have an observance of Financial Hangover Day.

Maybe we'll get lucky and more prudent imbibing will occur in the future. (I know, I'm a dreamer.)