Wednesday, March 18, 2009

Made-for-CNBC Administration

CNBC has got to be loving the Obama administration and all of the serious up-in-the-air issues. I can't remember a time when so many momentous issues needed resolution and could go ither way. Mark to market, the uptick rule, AIG, taxic asset treatment, protectionism, mortgages, corporate welfare for the entire auto industry...

The is no end to people who can come on the air and debate either side of something of great significance to the financial markets. AIG is unfortunately dominating this week, but should wrap up shortly after Liddy's testimony today.

I'm looking forward to the financial media getting back to talking about individual stocks and not what's going on inside the beltway.


People generally attributed yesterday's rally to a better than expected housing start number, which seems wrong to me. We still have too much unsold inventory. Zero would have been a good housing start number.

Sometimes figuring out why is very difficult.

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