The street may sigh a sign of relief today

Oh, to be a hedge fund like Blackrock today….

With the fed rolling out its new TALF/TARP program later today, it is expected it will give private equity investors the opportunity to snap-up some of the toxic assets on the books for about 60 cents on the dollar.

While my guess is this plan will come as welcome news to Wall Street — and just may starve-off the country heading into a depression — we will still be in a recession.

This means investors who grab some of the toxic assets may need to navigate some choppy waters for awhile — but those toxins will likely come out smelling like a bed of roses when the market begins to recover.

In other news, CNBC just introduced Howard Dean this morning as a new regular contributor for the financial channel.

As mentioned before, the XLF has been added to my due diligence list, joining my longtime regulars this year, including Walmart, McDonald’s, etc.

Just remember the usual disclaimer: Don’t base any of your investment decisions on anything you read here — do your own homework — or at least enough research to pick the right professional to do it for you.


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