[Steve_A]

Hi Everyone,

I have to say that initially I was suprised as much as the next man that the DOW got back in to positive territory today. Then I looked around and saw that today is President Bushs' farewell speech and the vote on whether to free the second half of the 700b.

The banks I mentioned earlier at the beginning of this thread painted a really rosy picture today, Citigroup saying that the rumour about the government take over is hogwash and the Bank of America saying it needs 'only 15b'.

I think the deal may have been done to deny the motion of not allowing the second part of the bailout money, as the directors of these two institutions who at the end of yesterday were crying for help, this afternoon are saying that the sun is shining and the sky is blue. I think they may have some priveleged info, which in itself is illegal, but hey, it's hard times. Right?

Once again I predict that the second half of the bailout being allowed, it will only stave off financial institution collapse for another month or so, as even the car makers are starting to look for more cash too.

Whichever way it goes, George W will have made his farewell speech on a high financial note (the DOW being positive). Next Tuesday is when the fun and games really start and I'm beginning to think that Barak is a little overwhelmed by his task in hand.

Let's wait and see.

Best regards,

Steve