Oh boy – a rocket scientist comes to our “rescue plan”

So the bailout bill passed last week, and the Dow closed below 10,000 yesterday.

C’mon… join me with your best Gomer Pyle impersonation in saying…. “Well, gawwwwleeee, surrrrrprise-surrrrrprise-surrrrrrprise….”

And now Hank Paulson has tapped Assistant Treasury Secretary for International Economics and Development Neel Kashakari –who is a former “Golden Goldman” executive and aerospace engineer — to head the Office of Financial Stability, including the Troubled Assets Relief Program.

Isn’t it ironic that Mr. Kashakari’s name sounds a bit like “cash carry” — after all, he’s going to be carrying lots and lots of our taxpayer cash right down Wall Street to bailout some old pals.

Let’s hope Neel doesn’t forget to drop some of that cash on Main Street.

Pardon my cynicism, but I’m evidently not alone in my thoughts.

After all, Main Street’s voice was heard loud and clear with the Dow’s plunge.

Okay, enough sarcasm this morning — let’$ talk money:

As I’ve been preaching for a while now, if this volatile market is too much for you to take — there is no shame in seeking the shelter of liquidity and safer investments at your local bank, including CD’s, Treasuries and government-backed bonds.

I am a safety-type girl myself; but I always keep a little in play for solid companies I have no doubts will still be around a few years down the road, and are getting beaten up unfairly in this volatile market.

After all, the name of the game is still “buy low and sell high” — just be careful about any spec plays right now, as even many of the solid blue chip stocks can almost be considered a spec investment in this market.

The names on my due diligence list are the same ones I’ve been highlighting for awhile now — Bank of America, Wells Fargo, U.S. Bankcorp — and the CME with an eye towards whether the fed or Treasury might possibly use it as a clearing house. A few other names I keep due diligence going on are Campbell’s, Heinz and Proctor & Gamble.

Just remember, don’t base any of your investment decisions on anything you read here. Do your own due diligence — or at least enough research to hire the right professional to do the investing for you.

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