Jim Rogers, George Soros, & Goldman Sachs Have a Thing or Two to Say about Financial Markets & the Credit Crisis.

What was once considered rare  becomes the norm.  More changes ahead. Legendary currency trader Jim Rogers has called plans to bail-out of Fannie Mae and Freddie Mach an "unmitigated disaster". George Soros said banks were only the beginning of the "most serious financial crisis of our lifetime."  He noted that Fannie Mae and Freddie Mac have a solvency problem not a liquidity problem.  Sounds like we might have already gone over that precipice.

• The S&P 500 Financials sector had its worst day of the credit crisis today, declining 6.1%.  The one-day declines in many of the banks today reminded us of the worst days during the bursting of the Tech bubble. Bespoke

• The survey confirms that these strategies—now established components of many institutional portfolios—are no longer “alternative” at all. In fact, alternatives now play an essential role in institutional portfolio strategies, and we expect across-the-board allocation increases despite recent market turmoil. All About Alpha

• With Goldman Sachs, George Soros and Jim Rogers all coming out skeptical about the government plans for Fannie and Freddie, skittish markets look for more input. Telegraph  Seeking Alpha