Shaken, and still very much stirred.
Here's the deal:
May is over.
But a long hot summer for the markets may be just beginning.
The Dow careening nearly 900 points this month.
The worst may point-drop its ever had. Ever.
Blame those damn Europeans, to be sure.
And blame our doubling-down spending Congress, to be doubly sure.
But if we're about to head back to choppy stock seas again … blame … an admiral.
Yep, an admiral, a retired admiral, to be specific.
An admiral who became a very successful congressman, and then a stunningly successful senatorial candidate.
Joe Sestak is his name.
In Pennsylvania, they're calling old Joe, "giant killer."
The man who brought down a Washington fixture named Arlen Specter.
But who, through no fault of his own, could be about to bring down something even bigger.
Washington itself. Or at least keep it pretty pre-occupied.
In what has to be the closest thing to D.C.'s version of the "little scandal that could," the unmistakable growing political mess for the white house that is.
News today no less than Bill Clinton was recruited by the white house to offer old Joe a job to get Joe out of that Pennsylvania Senate race.
Joe's long made little secret he was offered "something."
He told me himself.
He left it at that …
Inquiring types are not.
With Clinton’s involvement, this takes on a whole new feel, and for the White House, an eerily familiar one.
Even though Congressman Sestak himself said today from the steps of the capitol that this whole thing is hardly a capital offense.
Too soon to call this Sestak-gate, or job-gate, but you can bet your sweet bippie the president would love to just close the gate on this mess.
And not just the White House.
Wall Street too.
Even though a lot of these guys aren't exactly Obama cheerleaders … they don't much cheer for uncertainty.
And we could be looking at weeks, likely months of a lot of uncertainty.
A drip-drip drama that goes from bad to worse and drags both ends of Pennsylvania Avenue to a halt.
It happened back in the summer of 1973, when all were fixated on Watergate hearings that asked of a Republican president…
What did you know and when did you know it.
Increasing talk this last trading day of this not so merry month of may…
That this summer they might be getting ready to ask the same question….
This time…
Of a Democratic one.
Gaylord’s stock takes a bounce higher this morning on Wall StreetFlextronics to Buy Back $200 Million in Stock
