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Time to drag out the roller-coaster pictures for another "Will Google crash?" media frenzy. Anti-Google blog FuckedGoogle (subtle name, but you get the hint) points out the latest Google stock jerk-and-bounce: "S&P chairmain David Blitzer...didn't add Google earlier was because he thought the stock had become insanely overpriced, and was likely going to collapse." Then the GOOG price dropped, and a mollified S&P slipped it into the S&P 500.

But, of course, on the news of the S&P 500 add, GOOG bounced back to $370 overnight, and today it's shakily holding the gain. It'd be schadenfreudenly fun (but unlikely) to see the S&P pull a Google, balking at the hype and deciding not to add Google after all. (At least Google's near-acquisition Riya might get the joke.)

And all of this drama over a couple billion dollars — either way, Larry and Sergey are still multi-billionaires, and that's all that matters, right?

S&P Chairman admits he market timed the Google addition [FuckedGoogle]
Google Inc. [Google Finance]