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George Chamberlin's Money in the Morning

In what has to be the clearest sign of how whacky things have gotten out there, consider the yield on the four-week Treasury bills that were auctioned yesterday: zero, nada, nothing. Nervous investors put $30 billion into the short-term bills, a sign that people are more concerned with the return of their money rather than the return on their money. An analyst at Morgan Stanley called the situation "absurd."

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