Team Fraud, Meet the Law ~ The Risk Averse Alert

Monday, July 16, 2012

Team Fraud, Meet the Law

First, I want to apologize to Governor Spitzer. It is in bad taste to call him "John" on account of a political sting. Two wrongs do not make a right. So I have changed Friday's title. Walking on water requires no doubt, and haven't we all, like Peter, been swamped much the same in the light of truth! My transgression, then, but provokes humility to judgement passed on me by wisdom proclaiming, "For by your words you will be justified, and by your words you will be condemned." (Mt 12:37)

The one man who actually has done something to dog Team Fraud deserves better from me.


No reason why some of the world's most wildly overpriced garbage can't likewise sizzle a bit more in heat also baking the nation's food supply. Yet steam in Congress likely vented on Bernice regarding LIBOR these next couple days could gum up a rumor mill thrown off course seeking a way to exonerate Tina — a herculean task if there ever was one. Righteous weeping and gnashing of teeth likely to overcome both patriot and tool alike during Bernanke's congressional appearances both tomorrow and Wednesday could rattle rickety pillars propping up the market's predominately weak hands. So, any lift higher (if this is to be) for the moment might be delayed several hours. Being earnings season, though, we might expect some great "story" developing by the end of the week, possibly greasing a rusting rumor mill and lifting major indexes in a fashion like that indicated above.

Why now is a long-suspected LIBOR scandal hitting the light of day could become more evident in Congress these next couple days. Be it in a Bruce Ismay- or William Murdoch-like exit from Titanic, the future for Geithner since London abandoned ship could become all the more bleak. Thus, still, the Treasury Secretary's sinking accompanying the market's synchronized swim to a deeper bottom rather remains a reasonable possibility sometime over weeks ahead.

Fast Money
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