BlankMSN money news article.. In summary, Rogers says: "We are in a bear market, and only a few big stocks that are holding up the big indexes make it look like we're not. Stocks are done, and many favorites will go down 80% after people figure out how long they've been reporting phony earnings."
It's the remark about phony earnings that is disturbing. He reports a prediction that CitiBank and Fannie Mae will both fail and be taken over by the Fed. Fannie Mae has been hiding losses and cooking books for years. They simply do not know how much money they have lost.. How's that for management style? Sure hope the Dime Box saloon can hold down the price of tequila, we should, cuz Texas is half cactus, which should count for "sumtin" Richard .
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