Financial Panic Hits Wall Street

News of Bear Stearns facing a severe liquidity crisis has rocked Wall Street this morning. President Bush is expected to deliver a "bullish" economic address today, but I'm not sure it will do any good. In fact, he might hurt things if he hints at anything like a massive government bailout.

The one thing that could help the markets is the promise of an extension of the tax cuts, but sadly, the Dems are completely clueless.