Today marked one of the worst collapses in financial history as the Dow lost 778 points or almost 7% as the House failed to pass a bill for 750 billion dollars to help the credit markets. The Nasdaq had it even worse losing over 9% or 199 points! Brutal, absolutely brutal!

Taipan Publishing editor Justice Litle says Buffett’s backing is particularly significant. It shows there are still a lot of very powerful people, not to mention sovereign wealth funds and foreign governments, willing to back Uncle Sam.

THIS WEEK’S ISSUE:

* In-Play: $700 Billion Bailout – Deal Reached!
* In-Play: Short-Sellers Report Holdings
* In-Play: Citigroup (C) & Wells Fargo (WFC) Bid for Wachovia (WB)
* Market Commentary: DJIA, S&P 500
* Update: CBOE Volatility Index (VIX)
* Update: NYSE & NASDAQ Hew Highs-New Lows Index (NYHL, NAHL)
* This Week’s Economic & Earnings Reports

In a September 25 article titled, “0.25% Trading Fee”, members of Congress are considering a 0.25% fee on all transactions. That’s a’%’ and not a ‘$’.