THE NOTION THAT THE GEITHNER CHOICE FOR TREASURY HAD ANY CAUSALITY FOR THE 500 POINT RALLY TODAY IS A LITTLE NUTS...SORT OF GRASPING AT STRAWS...
THE MARKET "ALWAYS" DOES SOME 500 POINT SWING AT 3PM...NO MATTER WHAT HAPPENS... YESTERDAY DOWN 500...TODAY UP 500 WITH OPTIONS EXPIRATION...
WHAT THIS CHOICE DOES IS PUT THE DISMAL BUSH/PAULSON/BERNANKE DECISIONS IN HIGH RELIEF...
AND ENCOURAGE SOME "SECOND GUESSING"....BY ALL CONCERNED...
HENCE PAULSON'S GUILTY SOUNDING MEA CULPA YESTERDAY...!
REMEMBER, GEITHNER'S FINGER PRINTS ARE ALL OVER THIS MESS...FROM LEHMAN ON DOWN TO THE TARP!!
THIS IS NOT A "FRESH START" IT'S JUST MORE OF THE SAME...
AND THE SAME HAS NOT BEEN WORKING TOO WELL LATELY...
NOW...IN TRUTH...THE SITUATION IS MORE OR LESS UNSOLVABLE...
SO, IT MAKES NO DIFFERENCE WHO IS RUNNING THIS MESS... THE CAR IS IN THE DITCH...AND THERE IS NOTHING THAT CAN CHANGE THAT...
WHAT WAS REALLY IMPORTANT WAS THE CITIBANK DEBACLE TODAY...HOLY TARP...!
BUT THAT WAS MORE OR LESS A BACK BURNER ISSUE...AFTER THE "RALLY."
BUT BE ASSURED IT WON'T BE ON MONDAY...!
