cliff, there s no double-dip. there s no catastrophic stock plunge coming. a healthy correction? maybe, but not a plunge. jack up energy and really damage the economy just the way the fed did a year ago. ben bernanke is moments away from speaking his first comment since the bad jobs number on friday. we will take you there live and talk about outrageous fleecing of american taxpayers. the general services administration spending almost $1 million on a lavish las vegas conference all on tape. now congress is calling for an investigation. i say let s shut down the worthless gsa altogether, the private sector can do it much better. first up this evening, the jobs report on good friday, made for a bad monday. all major averages closed off 1%. bertha coombs with the day s market rundown. good evening, bertha. good evening, larry. the one silver lining, the stocks closed off the day s lows, we were led down by financials and materials. a very light volume. the first trading day
out now here. nice sign for the last two weeks of the year. bring black glass steagall? who would have thought of it? senator mccain ask kantwell are introducing legislation to bring back the glass steagall act. that would require these banks to separate the commercial banks and investment houses. so bank of america, for example, they would have to split off merrill lynch. j.p. morgan would have to get rid of the bear stearns operation and citigroup split off smith barney essentially, but they would also have to divest other investment banking arms that they have there. so there we go. citigroup, we re waiting for them to price the secondary, and the price talk around 330, 335 and it would be above 325. crude inventories this morning, remember, the oil s around 70 has moved closer to 73 and 5% recently and ever since that, exxon a nouned they were buying the natural gas producer, xto, 25% premium. all of these epo stocks bounced and have been up again here today. tradertalk.c