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Well today I just don't have any answers with regard to the ungoing finacial straits that the US and world finds themselves in. Just some observations.

Ole Charlie Schumer senior Senator from NY opened his mouth to hear himself talk and get a good soundbite with photo op and wound up sinking INDYMAC. I wonder if anybody has taken him to the woodshed on that one? Imagine his surprise when he found out that his reckelss rhetoric actually has ramifications. Or was it an excercise in power and was to serve as an object lesson? Today we find out the FBI is investigating INDYMAC for possible loan fraud. Suddenly the G men are back on the job.

Ole Georgy Bush sure has the look of being hunted when he gave his little talk yesterday. HE HAD FEAR IN THE EYES..."Why can't anything go right on my watch, I'm tired of all this hard thinking, I just wana go back to Crawford. How many more days is it again, before I can go?"

Mr Bernake, "Yep the Federal Government stands behind Freddie and Fannie and the banks, well that doesn't bother me either, that is all managable....but what scares me to death is that credit will dry up going forward, interest rates will go up dramaitcally and business and commerce will all grind to a halt."

Mr Cox of the SEC, "We will not allow anymore naked selling short of the financial stocks, ohhhh wait that is allready illegal? Well then we will just make sure the rules are enforced then." Maybe the fact that the SEC is back on the job, has made all the mice straighten up?

What a difference a day makes, the FED, the G Men and the SEC are back on the job after a long lunch, and throw in some good earnings from Wells Fargo and things turn around pretty quick.