Although the plan to bail out struggling banks had initially restored faith in the stock market, it appears that faith was short lived: This article reports more trouble on Wall Street.

The article reports that part of the problem is that Congress is trying to alter the bailout legislation as submitted by the Bush administration.  Democratic leaders in Congress want the bailout plan to put limits on what these banks can pay their CEOs.  Makes sense to me — our tax dollars shouldn’t go toward making disgustingly rich men even more disgustingly rich.

What I think is interesting is that the article mentions how the futures market has had an impact on oil prices, which spiked even while everything else dropped.  I wonder what this means for people who focus on day trading futures?  Is futures trading a safer bet right now?  Or are those involved in futures signals taking the same hits as everyone else?

It’s interesting how things that you wouldn’t think would be so important make lasting impacts on Wall Street!

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