The culture of short-term institutional greed in the US appears to be alive & well. Financial companies are stepping in to buy discounted stakes in the high-risk loan companies.

The sub-prime mess isn't completely over & (IMHO) it's just a matter of time before the results of this scare will be evident in the US economy. Until then, I step back from my 110 prediction for this week.

The ¥/$ exchange will stabilize back in the 114-116 range and stay there until the ripples from the liquidity mess start taking hold. Maybe in the 6 month - one year timeframe, but who knows?