Manipulated Markets

Today, the stock market rose on a statement by Treasury Secretary Geithner that the majority of banks are well-capitalized. But his statement doesn't pass the smell test. If this were true, then why did he say a few days ago that the majority of banks will need additional taxpayer funding? This is a contradition and leads me to believe that his statement is "spin", not truth. It is "sound bite finance", which is ultimately intended to mislead.

While the stock markets rose from negative territory into the black following his comment before Congress, his track record is so poor that I don't think many investors believe him. He is always wrong, so why would I put money on the line now? It appears to be a sound bite intended to move markets, but without any facts or foundation to back it up. I just don't believe him.