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CORZINE TEBOWING FOR GUIDANCE

|Includes:BA, BAC, C, CRM, DBA, EEM, EPI, EWC, EWG, EWI, EWJ, EWP, EWU, EWZ, EZU, FXE, FXI, GDX, GLD, GS, HPQ, HYG, IEF, IWM, IYR, IYT, JJC, JJG, JO, JPM, KHC, LUK, MS, QQQ, RSX, SLV, SPDR S&P 500 Trust ETF (SPY), THD, TIP, UGA, USO, UUP, XLB, XLE, XLF, XLI, XLK, XLY, XRT
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It's been surprising how little MF Global news there is. It's there, all gift-wrapped for the media. The CFTC Chairman Gary Gensler (former GS managing director) has recused himself from MF investigations given his close relationship with Corzine.

Goldman Sachs, the omnipresent vampire squid, has its tentacles spread globally. Apart from conflicts with MF, Goldman suggested ECB head Mario Draghi (a former GS advisor) encourage the Germans to allow the ECB to print enough money which would be lent to the IMF. In turn the IMF would lend it to euro zone nations in need. German PM Merkel has sternly voted no to this. Italy's new PM Mario Monti (also a former GS advisor) is also pro-printing. And, Goldman in a note Friday wrote: "There are no easy choices and it would have been, no doubt, better if the ECB had never got in the position it is in now. But the current situation demands a careful weighing of the risk involved with any decision taken. The inflationary risk thereby seems to be getting an unduly high weight in the consideration of German policy makers." They clearly have undue influence.
 

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