There will be about 46 earnings reports today. We were so consumed with the market imploding last quarter we really were not caught up in the earnings reports that much. This quarter should be different as the markets seems to have found its balance. Citigroup is dumping $12 billion in debt off to Blackstone and Apollo Group at a 10% haircut. We are in a recession, the question is, have we or are we in a discounting process. I think we are in discounting/bottoming process here, at least until another shoe drops. Credit cards and auto loans anyone?