the Bear Sterns bailout gave the markets a pop for about 8 weeks. the initial Fannie and Freddie statement popped it for about 10 days. the actual bailout popped it for all of one day. i figure this is good for about an hour and a half.
Why is it hard to believe? Haven't you learned yet in this crazy and insane market? Rumors in print of a rate cut by the FED on Tuesday and rumors of a govt brokered saving of Lehman. I sold my SKF in pre-market for 123 and change. Glad I did as I knew this BS would happen tomorrow and over the weekend into next week. Get used to the crap as the govt/Wall Street will do anything to postpone the real crash until after the elections when their political whores in BOTH parties are re-elected to their House and Senate seats. They need that to continue their pimping into the next few years. Welcome to the United Socialist States of America. Where the greedy and arrogant wealth pigs get a bailout as they laugh all the way to the bank at taxpayer expense.