Diamonds and Dogs
Four More YearsFour More Years
"Helicopter" Ben Bernanke was confirmed as the Fed Chief for a second term today in the closest, albeit political, vote ever for the post. I don't believe market players ever doubted that Ben would not be chosen for a second four years, believing that the "No" votes were used by politicos to show the voters back home how concerned they were. After a less than thrilling marathon of a state of the union address last night and today's vote, you can really get a sense that Washington is broken and the slightly dull inmates are running the asylum. Interest rates were kept at zero on Wednesday, as the Fed continues its plan of letting the big banks profit their way out of a financial crisis. Stock traders pulled in their horns the past several days as good earnings have not been rewarded kindly.