Do you guys really think the Dow would be higher right now if the House had again rejected the bailout bill on Friday? Didn’t you notice last Monday’s stock market crash upon its rejection? You can legitimately argue that the government’s role is not to support the stock market, but let’s at least concede short-term cause and effect between congressional action and the stock market returns.
if the House did the right thing (suspend mark to market, repeal sarbox, suspend cap gains tax) then yes. But there was no opportunity to offer an alternative.
Yes, and we also noticed that the DOW recovered the majority of that drop the next day when it was discovered that the sky did not, in fact, fall.
Yes. The market would know that something would have to be done and that a better bill would be written that would most likely include a temporary end to the capitol gains tax and other business friendly measures important to house conservatives.
Didn’t you notice last Monday’s stock market crash upon its rejection?
Did you notice it was down 300 points prior to the vote (that everyone thought was going to pass)? Did you also notice the market made back more than it lost (after that vote) the very next day?
You can legitimately argue that the government’s role is not to support the stock market.
No, I can't. I think the government SHOULD support the stock market with business friendly policies.
let’s at least concede short-term cause and effect between congressional action and the stock market returns.
OK, I concede that the short term effect of the bailout bill is....a current DJIA of 10194 compared to a DJIA of 10365 (the bottom of the "crash") and a DJIA of 10850 the day after the House rejected the bailout.