All It Takes Is a Greek Story to Further Scare Markets /CNBC - Patti Domm: “Greece's weakened banks are relying on emergency liquidity assistance and will not be able to use the European Central Bank's conventional monetary policy operations until they recapitalize. Not surprising, but a Reuters headline Wednesday morning saying that the ECB halted monetary policy operations to certain Greece banks rattled markets and drove the euro lower. The stock market's immediate response was to sell off, as traders puzzled over whether it meant the ECB had just cut off Greece. The temporary confusion also came as investors are warily watching the pressure on Greek banks from a large amount of customer withdrawals.”
David Einhorn and the PowerPoint Speed Read /NY Times: Azam Ahmed & Kevin Roose: “The crowd began to buzz just before David Einhorn took the stage on Wednesday at the Ira Sohn Conference. Cellphone screens cast a fluorescent glow in the packed auditorium, as investors eagerly awaited the hedge fund managers latest tip. An image of Bart Simpson standing before a chalkboard was projected onto a large screen with the words "I will not pretend to be David Einhorn on earnings calls."
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