Documents a few of the difficulties of trying to define a strategy for 2009.

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Chrysler sends out a wake-up call to Washington.

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Being long a "systemically important bank" is akin to being one of Orwell's "Animals who are more equal than others." It's like Daddy Warbucks whipping around the munitions players to cash in on World War I. I feel filthy, dirty and otherwise disgusted. But I suppose that's better than feeling short, at least for the moment.

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What can it tell us about being Optimistic vs Realistic?

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Looks like the financial crisis is taking the much anticipated criminal turn with the FBI starting to seriously probe allegations of fraud by a number of Wall Street firms whose recent collapses sent markets into turmoil. The ones that received the most media coverage - Lehman Brothers, mortgage giants Fannie Mae and Freddie Mac and insurer AIG - are big targets in the FBI's wide-reaching inquiry. This news comes on the heels of the $US700 billion government bailout of the troubled financial sector. Do you think the FBI will lay criminal charges against any senior company executives, and which companies are most at risk for criminal behavior?

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