Me? I'm hedged.
From Bespoke Investment Group:
Yesterday our brilliant House of Representatives rushed through another bill that was created because they failed to notice something in a prior bill that was rushed through. Note to House: Read what you try to write into law please.
Yes, AIG was bailed out and would never have been able to pay the bonuses had the government not bailed them out. Congress has a case to want the bonuses back. But for them to tax bonuses 90% going forward only puts these companies at a huge disadvantage, which will make it much harder for the taxpayers to get their money back....MORE, including table.Here's the Nasdaq/OMX Government Relief Index.
Components:
| REGIONS FINANCIAL CP | RF |
| FIFTH THIRD BNCP ## | FITB |
| GEN MOTORS | GM |
| JP MORGAN CHASE CO | JPM |
| KEYCORP | KEY |
| MORGAN STANLEY | MS |
| HUNTINGTON BCSHS ## | HBAN |
| AMER INTL GROUP INC | AIG |
| P N C FIN SVCS GR | PNC |
| ZIONS BANCORP ## | ZION |
| SUNTRUST BANKS | STI |
| STATE STREET CP | STT |
| NEW M&I CORPORATION | MI |
| AMER EXPRESS INC | AXP |
| BK OF AMERICA CP | BAC |
| BB&T CP | BBT |
| CITIGROUP INC | C |
| BANK OF NY MELLON CP | BK |
| CIT GROUP INC (DEL) | CIT |
| COMERICA INC | CMA |
| CAPITAL ONE FINANCIA | COF |
| WELLS FARGO & CO NEW | WFC |
| NORTHERN TR CP ## | NTRS |
| GOLDMAN SACHS GRP | GS |
| US BANCORP | USB |
It's a volatile little sucker. Via Yahoo Finance:
| Index Value: | 602.11 |
| Trade Time: | 4:36PM ET |
| Change: |  32.30 (5.09%) |
