I think Sen Obama ought to be thinking about his appointee as Attorney General. Normally, political loyalty is the key qualifier for that office. I think he'll want a kick ass prosecutor, maybe FitzGerald or Cuomo Jr. The president is going to need a series of show trials, maybe a major indictment every couple of months to protect himself from blame as the economy hits rock bottom.
One market note, the Europeans are beginning to disinvest in the US. Not only did they get burned on junk mortgages, they're losing money on equity investments, and they're losing money holding anything denominated in dollars while the dollar falls in value vs. the Euro.
That's alright, Americans will invest more of their savings in the markets as prices fall to "bargain basement" levels. What? They have no savings? and they're pulling money out of their 401K's to pay their credit cards? The credit card bills they're running up on gas and groceries? - Never mind.
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