Stress Test

I will only make one mention of the "Stress Test" tonight.

After the results were released, Morgan Stanley and Wells Fargo announced that they would sell stock tomorrow morning to raise money.

If you have any doubts that the entire "Stress Test" circus / short squeeze was done to do anything other than jack up prices to allow Banks, Insurance Companies and REITS to sell stocks to the public at higher prices, then you haven't been paying attention.

What really irritates me is the fact that some poor slob bought Wells Fargo today at the opening price of $27.95 or its early morning high at $28.34 on the CNBC's Midnight Madness version of "Stress Test" reporting - "who's side on you on man?"...

Wells Fargo is to price their new stock tomorrow morning for $20.50 to $22.00 per share. That means that you could be down 28% in a day, because the Government rigged the system to bail out the banks. And you wonder why US Treasury Bonds are broken and the US Dollar is on the verge of tanking.

Thanks for the "Change You Can Believe In" Mr President...

On a political side note, Obama actually looked into the camera today and said that we will have a $3.4(ish) Trillion Budget ($1.5 Trillion or more borrowed from our kids), but man is he doing a good job of cutting out $17 billion of waste out of the "discretionary" part of the Budget. I've got news for you, it is all "discretionary" if you have the guts and the votes...

Just another two-bit con man.