The John Batchelor Show

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Dow Jones: Simon Constable Grid Hacked

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"Dow Jones Newswires' Simon Constable says it's time to watch life insurance stocks now that the U.S. is set to give the sector TARP money. Plus, Pulte Homes buying Centex, and Chinese spies infiltrating the electrical grid."  P.S. Calculated Risk commenters point rudely to the fact that bailing out life insurance stocks with TARP money is not many steps from bailing out other Ponzi schemes such as casinos or Bernie Madoff.  Also the Russian hackers are a tiny worrisome. "Ac  Was that little sell off caused by the Russians hacking the grid?"

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It's all coming down: life insurance, commercial real estate, the lot. Residential property was the keystone that held the arch together. When that blew up, it took all the other stuff with it. The only game left in town is trying to guess in what order everything falls apart. Treasury knows it, but won't tell, hoping for some kind of deus ex machina intervention - like maybe a war?

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