Tuesday, October 19, 2010

More rumblings on the street

If you care about the economy then you must read The Big Picture every day.  After the election TBP will surpass Drudge as the single most important source of news as the lawsuits against the banks hit the street and the financial services sector's stock take a beating.

I won't copy and paste their excellent work today in rounding up the current state of the mess.  It's unclear whether the big scary lawsuits will hit before or after the election.  This is the only major issue on the American radar where the Democrats are more in synch with the public than the Republicans.  So I would not be surprised to see them turn up the heat on this issue as a way to get some favorable press running up to the election.  Go read the round-up on TBP.

This is the only time when the will of the people matters more than the will of the donors.  About three weeks out of every two years.  Let this be a warning to other industries.  Don't get yourselves in trouble during the last month of the election cycle.

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