If you listen to the media today, the bailout of Citigroup is a huge success and the stock market is being rewarded for effective, decisive action.  If you listen to me, there is no justification for what happened in the market today and buyers and sellers are irrationally grabbing at whatever news they can.  Tomorrow will show that in all reality it’s only a matter of time before something else dips and the market tumbles again.  But, there is good news amidst the gloom and that is the surge in Citi stock up nearly 60% to close at $5.95 – much more realistic for a company the size of Citigroup, even with their problems.

Even with the bailout of Citi on the books now, it doesn’t appear that the auto-makers are any closer to getting their due share, which seems odd to me.  I hope this proves to simply be posturing by the government as this to me still seems bigger and more important than the likes of AIG.  The only difference, of course, being that most politicians don’t care who is in Detroit, but their buddies on Wall Street are a whole different story.