Monday, October 06, 2008

Dow Politics

If we remember way back to about 2-3 weeks ago, Hank Paulson was promising that there would be NO MORE BAILOUTS. Then, suddenly, we needed a giant BAILOUT RIGHT NOW. The media typically responded by using the Dow as a proxy for the economy/magnitude of the crisis in order to help hype the necessity of a massive bailout. And since the bailout passed, the Dow has tanked.