I can't say that I have any confidence in the plan (obviously), but let's hope I've been wrong all this time...
Meet one of the five members of the oversight board on this plan. Two of the others: Ben Bernanke & Hank Paulson. Should be interesting to see how this plays out.
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It's working like a charm right now, ain't it?
Okay, it's Monday now, and the stock market has TANKED.
Wasn't the bailout supposed to prevent this?
Markets are fickle...
Nothing would surprise me right about now - 1100 point drop in the Dow, 1500 point gain, nothing.
This may just be the set up for the massive "bailout rally" - or it's legitimate concerns about the credit crunch spreading throughout the global markets. Maybe they just need time to execute the plan, though that seems least likely given that that's what Bush said today.
I wouldn't sweat the 401k too much, unfortunately it's probably (though by no means certainly) too late to alter your portfolio in any meaningful way.
Maybe tomorrow ...
To put a positive spin on it, I'm pretty sure the DOW can't fall below 0. It can't, can it? :)
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