Apocalypse Dow

Markets in free-fall.

I wonder why. Couldn't be news that Congress plans to tinker with pension funds. Or that Obama's transition people are already talking about how to use the big federal bailout money necessitated by government telling banks how and to whom to loan money for...telling banks how to make more bad loans?

Even before Tuesday's win, the Obama campaign was discussing ways in which it might attach more conditions to institutions that receive money, according to a person familiar with the matter. Some within the Obama camp, along with Democratic lawmakers, are concerned that banks receiving some of the $250 billion earmarked for direct investments aren't using the funds for their intended purpose -- to make loans.

There's discussion within the Obama camp about whether to target some of the program toward small businesses, student loans and problem mortgages.

On the other hand: a well-connected lobbyist reports in an email:

BO people have the tax increase on the table. No predictions, but there are a lot of seats they hold that are strong GOP, and they don't want to get tagged with the recession. They might put off/scale back the tax increase. They are smart enough to at least think about it...

What tax increase? I thought we were all getting a tax cut? Oh well, at least they're thinking about it.

Not related, but humorous. Hope is gone for Obama campaign workers.

They're just jackin' us out of our money, Man.

I know. If they can't pay 350 campaign workers, let's put them in charge of everyone's healthcare.