Michael Todd

It is understandable that the Fed injects cash to avoid the collapse of the stock market, but basically it is bad policy for monetary authorities to intervene to save speculators from bankruptcy. This is not their role.

From a good lie in the middle of a fairway bunker, I'll make the same swing as I do from an average fairway lie. I'll dig my feet in slightly and keep my lower body stable so I won't slip, but I don't change my club selection or setup. It's only when the ball is sitting down in the sand that I'll make some modifications.