October 7th I suggested that if the market broke 8,000 the likely bottom was 6,000. Today the DOW hit 7.114.78 but I’m beginning to wonder if 6,000 is really the bottom. When I made my estimate I was using price to earnings ratios. The historical norm for bear markets is 7x Price/Earnings.

Amnesty International’s report on the recent Gaza attack charges all parties with war crimes but places particular emphasis on the role of US arms and calls for an immediate embargo.

Comedienne, actress, singer and political commentator Margaret Cho is a longtime outspoken supporter of LGBT rights, campaigning actively against Proposition 8 and appearing at numerous equal marriage rights rallies. Her acid wit and sharp political jabs, as well as her ability to push boundaries and speak outrageous truths have gained her international acclaim.

When Barack Obama addressed the nation’s governor today he spoke about the reluctance of some Republicans to accept the funds:

There has been some healthy debate over the last few weeks, last few days, about this stimulus package, even — even among the governors. And I think that’s a healthy debate. And that keeps me on my toes.

In Robert Gibbs’ just concluded press conference, questions about Social Security reform were posed by five different reporters. Gibbs does not say that “there’s no intention to touch Social Security in the foreseeable future.”

Nationalization fears are not what is killing banks. It is not the fear of nationalization, but the question that economist Paul Davidson asked a year ago: “Who will take the hair cut?” Bank share holders have taken a hair cut already. The people who are left in banks are either fighting for the control of the bank itself, or speculators that the banking system will rebound and stay private.

I listened to Cathy Horyn’s review of fashion week for the NYT and I was reminded of Alan Greenspan telling us that housing prices could only go up or Abby Joseph Cohen predicting Dow 1600, or maybe more aptly some speed freak frantically taping tin foil to the windows as sunrise draws near.

Failed Hewlett-Packard CEO and infamous golden parachute recipient Carly Sneed Fiorina was coy about a possible 2010 challenge to Barbara Boxer when speaking with the political press in Sacramento after her “remarkable” speech in which she said “when somebody takes $40 million a year for failure, we cannot defend that.”

Well, actually, we didn’t.

Jeb’s boy George Prescott doesn’t approve of Charlie Crist’s stance on the stimulus bill.