Mr. Market Desperately Seeking a Policy Response

There will be few winners tomorrow. Sure, some funds are net short, others are heavily in cash.

But the often maligned Fox Business Network is a clear winner today. At least they were open for business and filling a void; it was a helluva time for the other folks to take the day off. News is scarce and the financial markets markets are illiquid and edgy; international debacles seem to be back on track Monday as Global Marts add to the roughly $3 trillion they had shed year to date going into the weekend:

The losses on the blue-chip stock indexes of Germany, Britain and France alone amounted to more than $350 billion, or roughly the size of the combined economies of New Zealand, Hungary and Singapore. Reuters

With the Nikkei tanking another 500 points on the open Tuesday; and S&P 500 futures off 57 points at 7:30 PM EST Monday night.

If there was ever a time for Bernanke to stepup it is now; the widely anticipated Roger Lowenstein profile of Ben in the past weekend's New York Times Magazine painted a sympathetic picture of a consensus building academic, but what we need right now is a decisive policy Czar with a backbone. Ben had better be banging his shoe on the desk haranguing fellow central bankers over a coordinated ease as we speak, and if it does not cross the tape tomorrow morning there will be hell to pay.

It is too late for him to fix the cracks, but throwing a hail mary just before its game over once worked for Doug Flutie.

Rear back and throw the ball deep, Ben.

Circuit Breakers
NYSE

World stocks routed on fears for economy
Reuters

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