SNOW DUMP

CNBC is getting tough to take with all the great stuff they say now about Treas Secy John Snow. According to CNBC, the markets have gone up X percent since Snow became the big man at Treasury in February of 2003. I think it was great timing on his part as he caught the market lows. As I recall, the Bush administration has been trying to find a replacement for the universally unloved Snow for months but no one wanted the top job at Treasury. Bush apparently could not take it any more so he pleaded with Paulson who was apparently on the "outs" at GS.

Maybe soon CNBC will tell me how great the markets have been since George W. Bush took office. Its not necessary, here are the numbers as the QQQQ started the Bush presidency at approximately 66 and it now trades at 39. Maybe they will also tell me that I am forgetting the 50 cent or so MSFT dividend so its really better than the 40% hair cut than it appears.