Diary

How to kill a stock rally

So Obama and Geitner come out and say we need to get credit to small businesses going again, so to do so we are going to create a new regulatory reporting requirement for banks to tell us how much they are lending to small businesses.  Unsaid and implicit in this new regulation is “we will punish you if you don’t do what we say”.

Well, that little event on economic recovery caused the Dow to shoot up down from a positive 170 to a negative 7.

Here’s an idea.  How bout we do nothin’.  Oops, sorry that wouldn’t fit the we have to do something liberal mantra.