Decision ‘08

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Wall Street Expects Libby Indictment, But Not Rove

That’s the little nugget buried in today’s edition of First Read:

Lehman Brothers’ Kim Wallace told First Read recently that if the Plame leak investigation produces any results the markets don’t currently expect, which he estimates would be anything beyond an indictment of Cheney chief of staff Lewis “Scooter” Libby, the markets will take a hit.

That’s the way I view it; if Libby is indicted, it’s a disaster, but an expected one - really bad news, in this case, means Rove.

Meanwhile, the MinuteMan detects a little misdirection regarding the latest revelations; I must admit I find it curious that something like this comes out this late in the game.