As I wrote back on September 10th:"I am beginning to think that bailouts get scarcer from here on out. The Treasury has just strengthened every bank on the right side of the trade (bondholders) and those that weren't will melt away and be merged with the saved. Look for it. Who are the odd men out? Maybe we should look back to the do-not-short list for the answer. By one action the have plugged a thousand holes."Did Paulson just draw a line in the sand? Frannie was the bailout to save the viable. The implicit was made explicit. Let the healing begin.Miro
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