On Tue, 22 Jan 2008 08:03:03 -0500, hk wrote:

...and Wachovia drive the DOW down a few hundred points today?

Is it the economy, stupid?

Nah - losses have been priced in by now.

It's an odd economy and I think one more like it used to be with more
reasonable lending standards and a more conservative approach to
making money. We've sold our real estate with one more to go and
there wasn't a hang up anywhere - money was available, the buyers had
solid credit and several banks were involved in pricing one loan.

That's a good thing.

On the other hand, Bernacke is completely out of his element here and
it shows. Too many academics on the Fed board and not enough
economists with market experience.

It will be an interesting day.