The equity markets sold off sharply today on fresh jitters about the sovereign debt of Italy and Spain.
It is also quite important to remember that stocks have been very overbought short term and were ready for a correction.
"Seneca had made the bargain that many good men have made when agreeing to aid bad regimes. Their presence strengthens the regime and helps it endure. But their moral influence may also improve the regime's behavior. For many, this has been a bargain worth making, even if it has cost them—as it may have cost Seneca—their immortal soul. The Rome he has been trained to serve, the Rome of Augustus and Germanicus, was gone. In its place stood Neropolis, ruled by a megalomaniac brat.” James Romm