Consumers everywhere, rejoice! Treasury Secretary Henry Paulson is coming to the rescue.
The $700 billion banking bailout is being opened up to help consumers get credit cards, school loans or borrow money to buy a car. Foreclosure relief may also be included.
Turns out the trickle-down theory wasn't working the way Paulson had hoped. Giving banks such as Citigroup (C), Bank of America (BAC) and Wells Fargo (WFC) a bunch of money was supposed to get the system back to normal. But the newfound caution in the financial services industry won't be abandoned that easily. Nope. The banks found religion. They are playing it safe. No more lending with reckless abandon, even with taxpayer money.
So looks like the government is going to become the new "Bank of the People."Of course, that doesn't really help me. I'm not thinking about buying a car, and I don't need a student loan -- and I'm still getting flooded with all those annoying credit card offers in the mail. The bailout I need is for my 401(k) retirement plan. If Paulson wants to buy some distressed assets, he can start there! And I bet there are millions more like me. Where's our bailout?
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV