Oh Hush

I like playing the 'oh look what (fill in the blank) said today that crashed the market' game as much as anybody. But it really is just a game. I'm getting a little tired of seeing/hearing it in serious reporting.

Now, I'll be the first to admit that Hank Paulson is big tool, but his remarks today did not really affect the market. More than half the drop today came at the open, and the market pretty much just drifted south the rest of the day, including before, during, and after his remarks. As has been the tendency recently, a big chunk of the movement came in the last hour (or some days, the last five minutes!!) He is useless and quite possibly counter-productive, but cut him some slack. He's not moving the market. That's the morons on the street!