Wednesday, October 1, 2008

Stunning day for Dow: Closes up more than 450

NEW YORK - Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector [stop.

this is bull stuff: it rebounded because the overreaction of yesterday created bargains that were snapped up today.

This constant implied-assumption that government is the only solution to this mess is a Washington/Wall Street/Media cabal (not coincidentally the same cabal that created it) that's deliberately ignoring the scores of competing ideas on how best this could be handled -- don't consume it as fact.]


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