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Bank stocks are off to another strong start to the day, up nearly +5% in early trading. Treasury Sec Geithner said that the administration may use capital injections as an incentive to get banks to sell their bad assets.
Yeah, I think it’s safe to say that Wells Fargo will be giving back their bailout money on the same day that Mr. and Dr. Instapundit “go Galt.” Coincidentally. this will be the same day that I win “America’s Next Top Model.”
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I have been saying I thought a big rally was out there, but I did not expect such a big one-day rally. The +6.4% gain in the S&p 500 is the biggest since last November.
I take it that for most our audience the analogy between Obama repealing Bush’s ban on stem-cell research (or, at least, defending this policy in terms Saletan does not approve of) and Dick Cheney’s policy of arbitrary torture is so specious that to restate it is to refute it. But perhaps Saletan may wish to conisder one rather obvious difference: opponents of torture actually favor categorical bans on torture, whereas Bush and most of his supporters thought that stem-call research should be perfectly legal but that some forms of this research should be denied state funding. Or may he shouldn’t consider it, such most of his writing on these issues ceding the moral high ground to people who don’t even take their own purported ideas seriously.
