Good morning.

Look for the market to open up as the futures are pointing up, at the moment. The reason why I hedged that comment, is that I don’t know how close Timmy (the market killer) Geithner is to a microphone.

Yesterday’s 3% drop started taking shape early Sunday morning as Tim Geithner started doing the sunday morning talk show circuit, and made statements about how the big banks would need more bailouts. This, after the banks had been saying that they were making money in the 1st quarter so far and Friday apparently had a rosy meeting with Obama. Geithners comment threw the markets into a downward spin that was then complimented by the auto company news.

Chrysler is now toast and will either merge with Fiat or go bankrupt. GM is 60 days away from a planned bankruptcy. Neither of those developments bothers me a whole lot, it is inevitable. But what scares me, and I believe the market as well, is Obama making hire/fire decisions for corporate America.

How long until Pelosi and Reid are doing the same thing?

How long until they decide to fire management of businesses they don’t like?