The Fed Speaks

After Congressional Republicans sent Fed Chief Bernanke a letter that
politely demanded the Fed cease on desist on all stimulus activities, I
half expected Bernanke to drop a liquidity bomb on the market
yesterday.

Who is Responsible?

Not only are we failing to get any traction to
employment due to the stagnant economy, companies that have screwed up are
continuing to shed payroll to get costs in line with their revenues,
companies like Bank of America (NYSE:BAC) and
Cisco (Nasdaq:CSCO).