Will Obama go Swedish

The Dow was down almost 300 points today as it approaches the low reached in November 2008. The decline today was due in part to the probability that the 'Swedish Model' for banks (nationalization of the banking sector) will be approved by President Obama. The banks would be forced to write down their assets to market which would effectively wipe out their equity. The Government would then recapitalize the banking institution or sell it off. Some economists believe that this would be bullish for the markets.

Random thoughts....GM & Chrysler want more $Billions and promise more employee layoffs....Obama signs the Stimulus Bill and the market goes down 300 (sounds like what happened to George Bush)....Gold is approaching $1000 as the Euro heads to 1.20....Obama unveils his plan to end home foreclosures tomorrow...The Dow may go down to 7,200 this week...