The TRUMAN SHOW was one of my favorite films of all time. During the final scene, when Truman leaves the fake world, two security guards watching on TV ask 'what else is on?' Perhaps Wall Street can understand that anxiety.. You can't please all of the people all of the time. But I guess.. you can fool them? Wall Street plundered on Monday over 700 points when the United States House of Representatives said 'no' to the $700 billion dollar bailout bill. Yesterday, when the Senate approved a new improved version, the Dow went down over fears that the House may not pass the bill. Today, the DOW went DOWN against 150 points--after the HOUSE PASSED THE BAILOUT BILL that Wall Street and banks and businesses sought for! Wall Street, according to the money experts on TV (the same ones that told us Wall Street desperately needs the bailout, and so did America for its very survival), went down today after the positive news on the $700 bil bailout because of unemployment news: it wasn't good. Employers slashed jobs, but the unemployment rate officially remained at 6.1%. Paulson said he is going to swiftly implement the bailout provision, though a whole new staff is needed to determine who will get government money. News isn't good in states, either: California worries that it may need an emergency loan, the deficit in New York is getting bigger, worries in Pennsylvania over smaller than expected revenues.. All in a day's news. And a day's trading. Happy weekend...

Labels: bailouts, Banks, Economy, Money, mortgage, recession, Wall Street