Have these people ever gotten anything right? On the Sunday news talkies, they pushed the idea that there would be no private investors for the government's toxic paper program. Yesterday, the stock markets took off like a flock of startled geese in response to the program and the disappointment was clearly visible in the faces and voices of the money honeys and prognosticators. The level of commitment to completely unregulated market function and the interests of the rich above all else is impressive. Nothing else about CNBC is impressive. I take that back. Some of the women are impressive lookiing. CNBC should be treated a a contrarian indicator. "Fox Business?" Hmmm…
The Obamanians have more things to do to sort out the economy:
– Suspend "mark to market" accounting for a bit.
– Forget about "clawing back" the bonuses. Contracts should not be violated. The Senate will probably fulfill its purpose in this matter.
– The "up-tick" rule should be reinstated.
– Stop "naked shorting" as a practice. Make it a felony if it is not already.
– Start regulating hedge funds and similar "casino" operations.