It's the Economy Stupid Wednesday

Oh I lost track of days and was planning on a big one this week. Perhaps I will post again between now and next Wednesday with some of the politics tied up in this. But for now, Wall Street are giant crybabies.



What does yesterday's day in the market really mean. I'll let Barry and Steve lay it out for you.

The money quote from Steven is:

These guys won’t be happy until the government agrees to relieve them of every last one of their lousy loans and investments at inflated prices, recapitalize every major bank and brokerage and insurance company on sweetheart terms and restore them to the glory days, so they can once again earn inflated profits and obscene pay packages by screwing over their customers and their shareholders. For the Wall Street wise guys, bailout politics is just another game to be played, another market to be manipulated, another set of risks to be arbitraged.

_John

ps. I will get on top of the Peanuts very soon.

chart: via Merrill Lynch