Well, Punxsutawney Phil saw his shadow this morning, predicting six more weeks of winter. Meanwhile, CNBC’s commentators spent the day criticizing outrage over Wall Street Bonus (averaging $108,000 per person), and thinking up creative ways to waste taxpayer money by supporting foriegn businesses.
Unfortunately, they failed to see their own shadow, as GE common stock hit fresh 13-year lows. Maybe they should start cutting some heads over at CNBC, seeing as how they don’t even have enough cash left to pay this years dividends.
I must say, however, Charlie Gasparino made a terrific point sparring with professional numbskull Dennis Kneale today. When Dennis said that the Wall Street Super-Geniuses would leave if we didn’t give them obscene bonuses, Charlie quipped, “and do what? Sell Amway products?” Good stuff.
By the way, how much did we bonus the crew of the Exxon Valdez? (a lot I hope)
I still see no reason to buy anything. Watch the river roll.