The problem of course is that outside of bull markets, where the TH's all play 'follow the leader' while devoting their prime time to looking "soooo good" on camera, most of them don't know any more than the next one. They are just reading a script.

The question I keep asking is, "Who's writing the script?" Come out of the shadows so we can see what you look like.

You can talk all you want about Deep Throat, but Crouching Tiger, Hidden Dragon seems more appropriate.

Letter from a reader: "Bill, From my reading over the weekend and through this morning, I note that there is somewhat of a divergence as to whether the Fed will get more aggressive vs. inflation in its statement. It seems to me that it may be in a tough dilemma " address inflation and kill equities, stay with the same statement and watch the dollar resume its fall. My guess? It all comes down to the ego of one man, and I don't think he wants to leave office known as the guy who let inflation sneak back in. Your thoughts? Ps " Bill I fear you do not have enough time in the day to share your thoughts with readers and correct every factual mistake CNBC makes (which is itself a full time job)! We all know cnbc is a joke;"

My reply: I don't know how the Fed will try to work out of a difficult situation, of course. I just watch with amusement along with you all. I don't believe it's Greenspan's ego though. More than anything, the Fed's job is to keep the USD as stable as it can. The Fed is just a referee, not a government policy setter or a consumer or builder of wealth. If Nation Builders and Big Spenders in Washington or consumers and real estate buyers in the U.S., or speculators across the world, want to destabilize the global capital markets, there is precious little the Fed can do. As I see it anyway.

On another subject, I note last hour's announcement that Time Warner (NYSE: TWX) has settled a $300 million fine with the SEC for allegedly overstating the number of AOL online subscribers and ad revenue. There was an instant drop of $1.00 to $17.50 before an immediate recovery to close to the prior level.

Speaking of online ad revenues, I wonder if the SEC is looking into the internal accounting at Google (NDQ: GOOG), which changed accounting methods last year, and seems to me to be doing all they can do to pump reported income.

But, I guess "click through" fraud is a different game.

BCara@BillCara.com