This market is not climbing a wall of worry, it’s climbing a wall of ignorance.  Why worry about $10 billion in writedowns at UBS?  Ignore it.  Why worry about Columbia’s pseudo money market fund breaking the buck yesterday?  Ignore it.  Why worry about MBIA needing a billion to shore up its capital and avoid a downgrade to its credit rating?  Ignore it.   Forget about Freddie Mac preserving its capital by restricting its purchases of delinquent loans. Ignore it.  Why worry about Washington Mutual ?  Ignore it.  Inflation, slowing GDP, slowing corporate profits, housing crisis, etc.?  Ignore it.   Do what you want, but just don’t tell me about this market climbing a wall of worry.  This market started to climb two weeks ago when it stopped worrying and started ignoring.