Main Street to Wall Street.

Here's a short paragraph of what I read in the NZ Herald on the failure to pass the bill of a USD$700 billion bailout for US financial market. It made me smile.

"The US House of Representatives has sent the financial markets a simple message.

Main Street to Wall Street: Drop dead."

My sentiments exactly.

I'd be really pissed off if I knew my tax money is going to fund and redeem the greed on Wall Street. That's a whopping 1 TRILLION SGD!!! (Whoa. You lose track of how many zeros after a while.) Those top executives are walking away with golden parachutes (basically a shitload of $$$) for their bad decisions while people on the streets suffer.

However, looking at yesterday's markets meltdown, my bet is that the House will relent and some form of bailout will be issued else the chances of a major recession in the US will be pretty likely. And the effects will rippled down to us.

The selfish question to ask now is - should I keep my money in a bank or should I go bottom-fishing, buy some cheap blue chip stocks and just wait this whole hooha out. How? Any advice???