AS they like to say on Wall Street: "There is always a bull market somewhere," and while such an animal was especially hard to find this week - there was an emerging bull market in outrage forming among investors and non-investors nationwide.
Traders in this "market" are swapping names of those most to blame for a crisis that has the US banking system on life support.
Some of the most active names on the Outrage Exchange are obvious: SEC Chairman Chris Cox, former Lehman Brothers CEO Dick Fuld, former Merrill Lynch CEO Stan O'Neill. Past executives at Fannie and Freddie each get a bid. And the drumbeat will continue.
Still, for my money, the stock of former Fed Chief Alan Greenspan deserves the highest multiple in what could be called the audacity-to-outrage ratio. The audacity of Greenspan's actions is high, while the popular outrage still remains remarkably low.
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