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Even though he is a right wing cheerleader who is always eager to politicize every stock market jitter, while wearing his pinstripe suit and pinkie ring, I have to take my hat off to CNBC's Larry Kudlow. He has always had the guts to take a contrarian stance. Lately though, he seems to have lost his marbles. "I don't want to do a Lehman analysis on this program," said Larry, eager to skip the bad news and move on to the miracle of Sarah Palin. "It's too darn boring!" With all due respect to Larry, Lehman's demise might be the biggest story yet.

It's easy and counterproductive to politicize the stock market: Democrats would say the it's plunging due to eight years of Republican leadership. Republicans would counter that the free-falling stock market is pricing in a Democrat in the White House.

Research based on the past 80 years shows that American stock markets have performed better under Democrats, but the Republicans would correctly point out that the result is distorted due to the Internet revolution that took place during the Clinton administration.