Roger has another great in-depth post on the bailout and the problems here.
I prefer to keep it simple and just look at the prices. They imply CHAOS. Not a little chaos, but big FREAKING CHAOS. The chaos that has me short some consumer stocks like DECK and BBY and long mucho gold that has panned out beautifully. My Capital One short has cause massive ball bruising and I am done with that house of fixed cards for now. Capital One should have failed long ago and I am sick of losing money on this biiiitch of a stub.
You just can’t SPLURGE $700 million and make it sound like you have any specific idea what that amount will cover.
Our ‘leaders’? are pulling shit out of their asses. The volatility is only increasing as traders get more nervous and trigger happy and investors walk away and just pull and panic.
I continue to believe that the talking heads should be shut down and CNBC should not be allowed to distribute their bullshit breaking news when it just serves to increase volatility and INCREASE, not decrease volatility.
The FED and Paulson have done a piss poor job of communicating the bailout and shareholders and citizens are not angry enough.
Continue to sit out The Splurge or else risk being covered in it.