“HCS Worldwide” sources say the European-based investment manager reportedly expected a more positive market reaction to news of agreement on the US government’s bailout package for the moribund banking system.
Although the plan has not granted the US Treasury as much blanket authority as initially requested, the sums involved are consistent with figures mooted by Treasury Secretary, Hank Paulson according to a source at “HCS Worldwide”.
“HCS Worldwide” apparently believe that news of bank nationalizations in both Britain and Europe may have focused attention on the possible need for a similar rescue there.
The “HCS Worldwide” source suggested that if the markets remain skeptical, further deterioration in credit conditions and equity values may be the result.
