Government Bail-Out Du Jour

Treasury Secretary Paulson just finished a press conference in which he unveiled yet another attempt by government to stabilize the housing market. This chart shows the initial reaction to buy the Dow (see the circle in the left chart). This one only lasted a few minutes, surprising even to me. The positive reaction in the stock market was short-lived, and the stock market indexes have once again sold off, where they are currently down about 200 points on the Dow thus far today.