New SEC head Mary Schapiro was confirmed almost a months ago. Today she will make her first public appearance. I have no doubt that she has used the last three weeks to craft careful language about tougher, smarter regulation. Other than hiding from the Madoff mess, I wonder what the hell else she has been doing.
Despite CNBC's fervent prayers, Reuters is reporting that she isn't in with Geithner discussing the suspension of mark to market.
I don't think the jobs number at 8:30 this morning matters that much. We're going to 8%+ unempoyment. Whether we stopped at 7.5% or 7.6% last week doesn't really make much difference.