Which was the only stock in the S&P 500 to go up yesterday, according to Bloomberg.com?
Paul Solman: Rhetorical question, posed by myself: Which was the only stock in the S&P 500 to go up yesterday, according to Bloomberg.com?
Answer: Campbell, the soup company.
If the goals of the Conquistadors in the “New” World were “the 3 G’s: God, Gold and Glory,” perhaps investors buying Campbell’s stock were using the new survivalist 3 G’s of the financial crisis: Generators (for your own electricity), Guns (to ward off the looters) and canned Goods — like soup.
Or, more hopefully, perhaps the market figures people will be downshifting in droves and stocking up on comfort food as cooler weather moves in.
PS: A suggestion that you read another Bloomberg item, this one written by the gutsy and otherwise remarkable Michael Lewis (“Liar’s Poker,” “Moneyball,” etc.): America Must Rescue Goldman’s Bonus Pool.
PPS: Another suggestion: The ever-sane Dean Baker’s column on the bailout in Talking Points Memo.