In an attempt to solve a problem created by government interference with the free market, the government has promised $700 Billion of additional “help” (minus a considerable amount of pork to get this “absolutely necessary” measure passed).   The market’s reaction? Sell, Sell, Sell! Apparently the greedy wall street bastards have less confidence in the government powers and promises then -well- the government’s own view.

The DJIA is not a perfect measure of the market but it’s an easy reference point.  Here are the closing of the Dow for the last few weeks:

Date Dow Change Notes
Mon, Sep 15, 08 10,917 The week before
Tue, Sep 16, 08 11,059 142
Wed, Sep 17, 08 10,609 -450
Thu, Sep 18, 08 11,019 410
Fri, Sep 19, 08 11,388 369
Mon, Sep 22, 08 11,015 -373
Tue, Sep 23, 08 10,854 -161
Wed, Sep 24, 08 10,825 -29 President Bush proposes $700B bailout
Thu, Sep 25, 08 11,022 197
Fri, Sep 26, 08 11,143 121 Democrats claim they have an agreement
Mon, Sep 29, 08 10,365 -778 House Republicans rejects first bill
Tue, Sep 30, 08 10,850 485
Wed, Oct 1, 08 10,831 -19 Senate passes revised bail out
Thu, Oct 2, 08 10,482 -349
Fri, Oct 3, 08 10,325 -157 House passes revised bail out; Bush signs
Mon, Oct 6, 08 9,955 -370
Tue, Oct 7, 08 9,447 -508
Wed, Oct 8, 08 9,258 -189
Thu, Oct 9, 08 8,579 -679
Fri, Oct 10, 08 8,451 -128

Note that in the week and a half before this “crisis” was declared such, the Dow dropped 92 points.  In the week and a half that the government displayed its competence at promising help without mentioning how we got here, the Dow dropped another 500 points.  And in the sole week since the ill-conceived  solution became law the Dow has plummeted another 1874 points.

How many billions will it cost tax payers to bail us out of this bail out?

UPDATE: Another week and the Dow has “recovered” to 8852.  Only another 2000 point gain is now needed to get us back where we started…