Sunday, September 28, 2008

Buy Wall St. Bailout Contracts Now

There's one obvious way Main Street can benefit from the unprecedented Wall Street bailout - by buying bundles of stock in the impending Congressional approval of the rescue plan.

While you were sleeping, Speaker Pelosi and Secretary Paulson emerged to announce that they'd ironed out a tentative deal

As of this writing, the contract on Intrade for Congressional approval of the bailout is selling at 86, suggesting that traders are still asleep at the switch. As a result, there's easy money to be made for early risers.

Sure, Politickr admits that it's entirely possible Congressional Republicans could once again scuttle the deal. The chance, however, that this bailout breakthrough will collapse is remote since the word from Washington is that both parties are now on board.

Bottom Line - There's clearly something ironic about buying stock in the biggest Wall Street collapse since the Great Depression, but it's far less risky than actually buying stock on Wall Street these days. With Congressional approval seemingly imminent (certainly by Monday), it's an opportunity you can't afford to miss.

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