KKR News = Market Top?

Do we really need this after the markets have rallied some 70%?

http://ftalphaville.ft.com/blog/2010/03/12/174131/party-like-its-2007-kkr-finally-files-for-a-nyse-listing/

This could be just the news we need to get a Top in equity prices.

This mornings retail sales numbers rallied equity futures, but what was not noticed was the downward revisions to Jan figures. February is usually a clearance month for most retailers, but it was still a decent figure that has to be somewhat respected. The investor bull/bear figures also are back to Mid-January levels. A lot of people have given up on the short side and are looking for higher equity prices. The banks which are effectively insolvent have rallied and broken out to the upside. It all seems to good to be true.

From reading the 2200 page mammoth train wreck that was Lehman, it is very easy to understand that even today the giant fraud that is the US Economy/Financial System is allowed to go on as business as usual. All of this is not surprising. This is why Lehman was allowed to continue to operate. Its Ali Baba and the 40 Thieves all over again. After the Dot Com Bubble blew up we all looked exhausted saying that this type of institutionalized fraud and willful negligence will not be tolerated and that Wall Street has lost the investment public for a generation. Well today I am reading similar missives on the credit implosion. This behavior is allowed to go on because the enablers that is primarily the US Government/Congress allows it. The auditors betrayed us with regards to Enron, Worldcom, and Adelphia, where were they in regards to Lehman? Ernst and Young should die like Arthur Anderson for their willful neglect to detect fraud. Everyone who knows anything about how Repo Markets work now about Repo 105. This is accounting slight of hand. These guys are whores not only for the companies they contract work for but for Wall Street in general. This just allows upper management at these companies to blame short seller and CDS markets for their own willful negligence. They come on CNBC and Bloomberg and flaunt their Ivy League degrees and pull the wool over everyone's eyes. You would think after the 2000 NASDAQ Meltdown, the media would be up to taking on these charlatans to task, but no! Some of the TV press who relied on access to their subjects, actually rallied to the defense of these CEOs, and blamed the short sellers. The SEC which is completely clueless and don't have the faintest idea of how markets really work come out with policies that actually legislate CEO fraud. The ban on short selling was 100% an SEC WTF moment!

We have seen this play out a million times. It will happen again. Why? Because Obama, Geithner, Bernanke, Shapiro, and Congress want it that way. Its so painfully obvious that Obama doesn't have the onions to take on Wall Street. Most people never got over the NASDAQ Implosion, the ones that were able to, got hammered in this credit crisis. The only ones that are actually trading at the moment are the 40 Thieves.