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Commentary

House Passes Bailout Bill

The US House of Reps – the lower house – equivalent to our Lok Sabha – has passed the bailout bill.

The Dow is down to +99 from it’s high of some +240 today. This is basically buying rumour and selling news. Or there is something more sinister to it – just that shorting is not allowed so this has to be normal selling.

Now, we shall sit and watch how it unfolds. Let’s see who does get bailed out, who needs capital, and how Paulson trades in. This is going to be fun. I think I’d like to be short, if possible.