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Bailout Bill Nears Approval in Congress

Source: http://feeds.feedburner.com/~r/ContrarianProfits/~3/402864075/5721
 Posted on Thursday, September 25th, 2008 | In Market Commentary
Contributed by: Contrarian Profits (http://contrarianprofits.com) -

It looks as though Hank Paulson’s controversial $700 billion bailout bill will make it through Congress. This from Reuters:

Congress is making “tremendous progress” on a U.S. bank bailout bill, Rep. Paul Kanjorski, the chairman of the House of Representative’s subcommittee on capital markets, a Democrat from Pennsylvania, told CNBC. An agreement on a bailout bill is “almost an accomplished fact,” [...] Kanjorski said.

The news sent US stocks skyrocketing this morning. The Dow (DJI) climbed over 200 points in barely an hour of trading. Justice Litle says there are 5 things every investor needs to know about the Paulson plan.

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