Wall Street "Record" Losses

Yes, the Dow lost a "record" 800 points intraday today (see prvious entry, written when the Dow as down "only" 400 or so). 

Does this not "prove" that the Wall Street bailout bill is responsible for a virtual crash on Wall Street?  By the logic of Barney Frank, and others, who blamed rejection of the same bailout for the 777 loss last MOnday, it certainly does.  See my previous entry, and the entries over the last several days, as to why it might actually make sense to blame the bailout bill for these losses over the past week--albeit the blame short term is not so much with the bill iteself (which will hurt us longer term), but with the fear with which the Wall Street bailout was sold.

The market did "recover" by the end of the day, to lose "only" 370 points, just as the market recovered more convincingly last Tuesday (the day after the bailout bill was corretly rejected the bill, only to lose courage).  It hardly mattered.  ONce fear was used to push the bailout, we were in trouble either way.