Spailout Flops

The market rallied for a couple of hours on news of the $100 billion dollar Spanish bailout (which everyone is calling the Spailout) … and then crashed.

Bloomberg notes:

U.S. stocks fell, following the biggest weekly rally in the Standard & Poor’s 500 Index this year, as optimism over Spain’s bailout plan gave way to skepticism it will succeed in halting the debt crisis.

http://www.washingtonsblog.com/2012/06/the-spailout-has-already-failed.html

Related:

Also related:

Goldman Sachs Zuckered clients in record time advising Spanish Bond investments at 12:30 last night only for massive bets to be placed against them today.

First thing this morning we warned our readers that we smelt a rat. The reason: at roughly 12:30 am Eastern this morning, or just before the European open, Goldman’s Francesco Garzarelli sent out a note trying to spin the Spanish bailout as favorable. More importantly, they told their few remaining clients to go long Spanish 3 Year bonds…

http://blog.alexanderhiggins.com/2012/06/11/goldman-sets-speed-record-facebooking-clients-144031/

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