The media showed all these looney tunes they call Congressional Leaders talking who is to blame for the defeat as though the defeat of the bill is a bad thing. The defeat of the bill is hardly a bad thing.

But where the blame game should begin:

Maybe with who voted to repeal the glass steagle act.

Perhaps all those who voted to change the bankruptcy law to benefit predatory lenders.

Most certainly all of those who punished politicians like in the state of Georgia who did their best to stop predatory lending in their states.

Perhaps all those who promoted corporate merger after corporate merger.

Maybe all those who pushed the price of a $100,000 house up to over $500,000.

Can't help but wonder if when the price of gas went up above $3.00 a gallon, if the government had put a rationing plan in place as a balanced price control plan if perhaps some of this could have been prevented. Yeah, don't much like that socialism either but it would have made more sense than the government nationalizing banks.

Most certainly all those who refuse to do anything about our trade deficit should be blamed.

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During the last 40 years America has lost one industry after another. We've seen good paying jobs move overseas. And the Wall Street Whores all sang the same tune. "Fuck Labor." "America doesn't need those Industries." "Inflation doesn't matter so long as it isn't wages going up." "We just need to retrain workers." "Don't give money to pan handlers. Give the money to sanctioned," though very crooked, "charities instead." And so on.

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Our government has no credibility. Our media has no credibility. And the Wall Street Whores most certainly do not have credibility.

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*Note: When I use the term Wall Street Whores I am NOT talking about the good people in the Finance Industry. I well undertand there are a lot of good people. But those who have pushed politics with the attitude that everyone but them can go to hell. Those who have the attitude that so long as they get their payday nothing else matters. Those are the people who are not good people. And they are the people who have pushed the politics and the nation to where we now stand. These are the people who think they should be given $700 billion while basic economic principles are ignored; and everyone but them can go straight to hell.

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When the Finance Stations call those of us who oppose this bullshit as crazy, as Timothy McVeighs, exactly who is really sounding crazy??????? What kind of person goes around screaming the sky is falling or if Congress does not pass this very bad bill then it is the end of the world. They can call us nuts, but if they think they are sounding sane, get a reality check.

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The overall stock drop looked severe but if you look at individual stocks, today's drop really was not much more severe than the bouncing ball that has beeing going on for much of this year. To some degree the drop was orchestrated for propaganda purposes. (Yeah, I know that sounds conspiracy like but even without the $700 billion slush fund there are enough unregulated slush funds around the world to manipulate markets.)

But back to the point:

Yeah, a lot of stocks have lost almost half their value from their 52 week high but today many stocks were not near many of their new lows. Those lows had already happened before today. I look at what I call noise to see which direction a stock is going. (This isn't a book and I'm not going to explain.) But with more than a few of the stocks I was looking at, the primary noise was on the upside even if the stock lost, for example, $2 today.

Although some comodities may be in for some major drops, the stock market may very well have bottomed today. Without the crazy bill, as long as the Fed and the Treasury use the constitutional tools they have at their finger tips and stop being idiots, the worst may very well be over. That doesn't mean the government should not deal with trade deficits and work to help rebuild American Industry, but the markets, even as the seeming bouncing ball continues, should begin to settle.