Another options expiration with shenanigans, and a downgrade to Greece sovereign debt that roiled the market mid-day and triggered a bit of a flight to safety.
The markets generally ignored the financial crisis as it unfolded, and stocks were largely unchanged on the weekend before the collapse of Lehman Brothers took the markets down hard. I do not expect the next financial crisis to be anticipated any better by this market. Price discovery and efficient capital allocation is not possible in a system permeated with fraud.
Let's see how the Asian markets open on Sunday.
