Zings Of The Day (JPM)

J.P. Morgan (NYSE: JPM) ignored claims about Bernie Madoff, as senior executives were supposedly made aware of the Ponzi scheme he was running. That's not gonna be good for business. That's not gonna be good for anyone.

Moody's cut Ireland's sovereign rating by two notches today, going to Baa3. I think for every notch Moody's cuts, another shot of Jameson gets drank.

Congress on Thursday approved a budget deal to cut "$38 billion" in spending. I guess in Washington, $352 million equals $38 billion. Glad I didn't go to those public schools.