House Rejects Bailout

The Defendant Shall Kneale
More silliness from CNBC personality Dennis Kneale. The default defender of the status quo is offended by the double-digit plunge of Apple's shares today, more then deserved in his considered opinion, because obviously the company's business hasn't dropped off that much over the weekend. For Kneale, every closing share price represents an ironclad warranty about the true state of a company's affairs, it seems. The notion that Apple might have been 14% overpriced on Friday is obviously as foreign to him as the possibility that the business establishment is ever wrong, even this far into this financial crisis. I wonder what he thinks Wachovia ought to be worth today, or Lehman Brothers. I wonder what his fund statement looks like.