In an interview with RTT News, Jordan Kimmel, portfolio manager at Magnet Investment Group says Congress not approving a bailout of the Big Three automakers would not be catastrophic to this market, though he would expect a "knee jerk move of a few hundred points." "The real question" Kimmel says is, "is it really bad, long term, systemically…and the answer to that is definitively no."
"Sometimes the answer has to be "no" and then you move on," says Kimmel. America has been built on "risk taking," he adds and "not everybody wins."
To listen to the complete interview, visit:
http://www.rttnews.com/Content/AVDownload.ashx?ID=26360&url=Audio2/2008/November/19/PMBUZZ-Kimmel-11.19.08-lbr.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.