A wee bit of progress

The major stock indices have rallied, with the whole thing starting off last Tuesday. Encouragingly, there has been good news circulating to accompany the rally. For example, AIG has disclosed where it spent its bailout monies. While distressing to some, transparency helps to reestablish trust, even if your particular take on the AIG fund distribution is negative. Additionally, we are getting greater national discussion of financial industry regulatory change. This is the sort of news that should lead to a partial restoration of investor and consumer confidence. What is more, Bernie Madoff (An Official Jackass) has plead guilty and was ordered to immediately go to jail. Given the stern rebuke issued by the judge to him, I would imagine that his sentencing will not be lenient. And lastly, John Stewart’s broiling (extreme roasting) of CNBC’s loud-mouthed Jim Cramer on the Daily Show is the sort of call to accountability that the general public needs to demand so that the price of Jackass behavior becomes high and publicly embarrassing. Taken all together, these things are the sorts of foundational changes I have been looking for and that are a breath of fresh air.

Jason