Stock Market Cheers Fiscal Insanity

The biggest stock market rallies occur in bear markets. Today we witnessed one of the biggest bear market rallies in history on ``Plans To Shore Up Banks.''

Yay for mystery plans promising to "fix" everything, even though they are bound to be dilutive for existing shareholders, if they are anything...

I am really sick of regulators acting like the stock market's response to the crisis is the problem. The stock market has been badly lagging in discounting the problems for years, since the official cheerleading squad known as the press and the government have actually succeeded in brainwashing (or at least providing rhetorical cover for) the financial world.