Here we go again - Dems cave to Bush and he gets what he wants after yet another administration SNAFU. Do they really believe the Bush - Paulsen team, with its great track record and prescience on the economy, the war, the environment, etc. on this? I remain skeptical as do many economists, as to how effective this policy of a government buyout of corporate toxic debt is really going to be. First results don't seem to promising. Per Barry Ritholtz
Wow, that's a nearly 450 point swing.Very surprising to see the bailout pass, and get signed into law, and then see the market fade.
Once again, I have to say -- I hate to read too much into intra-day action, as its mostly noise, but this is not a positive development .
The corporatists have been saved from themselves, but who saves the rest of the country from them?
They’ve Tanked the Economy, Trashed the Environment,
Wasted the Military, and Lied Us Into War.
Yippee, Elect Another Republican