It seems that folks assume that since we’re at the cusp of yet another massive bailout, it’ll be “off to the races” on equities, and a stampede toward new lifetime highs. Allow me to share the chart below of the S&P 500 back in the financial crisis. I’ve marked with an arrow the point at which TARP was being voted on in Congress, kind of like the Corporate Welfare Act is right now. Just sayin’.
