Markets and Economy EEEEEKKKKK!!!!

Mutual Fund Corruption could be serious but Left Democrats don't care.
Remember, the Left Media wants BAD NEWS This week's decline based on poor profits for some companies is healthy as hell. I warned last week that the NASDAQ is once again the home for the nut cases and it got hit hard, but not hard enough. It needs to come down another hundred points or lag a big rally by a hundred. THIS WEEK IS HUGE. First, we are going to have the GDP and now the Left Media is chanting seven percent in order to throw up their hands in despair at five percent; five percent would be huge. Big numbers come out every day this week. JOBS, the real unemployment rate, comes out Friday, Nov 7th and that will be a major number. Meanwhile just look at your own numbers and pay no attention to the "noise".

ONE MAJOR PROBLEM and I think it is very big, is the corruption from top to middle in the mutual fund business. This is crucial because this is where mom and pop put their money and it looks like they have been robbed for years. How pervasive is this corruption? Let's hope it's just in five or six companies. If it is systemic a lot of people will bail and become socialists over night. Really watch the "noise" and news on this. I think this could wreck everything because it shows that presidents of Mutual Fund companies were stealing money from investors. Couldn't be worse. Watch it. Motley Fool has a nice piece.

What a total, complete disgrace. With this revelation, the mutual fund scandal has taken a step from being a crisis to being an absolute abomination. Where before we had the equivalent of a bank manager "accidentally" leaving the safe door unlocked, now the bank manager's loading up his own bag with your loot.

There is more so go there. Forbes has been covering it well but they are next to impossible to access; I don't know why. MSNBC has a very good look; be sure to go there. I repeat, this is the very worst of bad news. If the Democrats had any brains at all or any integrity at all, and this is proof that they don't, they would be all over this as an example of what is wrong in this country. But then Bush might have to actually do something. Please, don't underestimate the seriousness of this situation.