It is my guess is we’re seeing is a “dead cat bounce.” Speculators and those that think a bailout will be passed have jumped in the market to reap some quick gains. Others may be jumping in trying to cover their short positions. Only time will tell if my guess is right - I have a feeling that it is.

What do you think? Have we hit the bottom, or are we seeing a “dead cat boune.”?

In addition, the SEC has placed a temporary ban on the short selling of 799 financial stocks.

What’s up next? Only time will tell. For now, please fasten your seatbelts and keep your hands inside the car at all times. Please enjoy the ride!

It’s amazing they would pass up a deal to buy Lehman Brothers which likely could of been had for a deep discount. Do you think that government played a role behind the scenes? Just how bad are Lehman’s books that nobody wants to but them?

“Under no circumstances should the executives of these institutions earn a windfall at a time when the U.S. Treasury has taken unprecedented steps to rescue these companies with taxpayer resources,” 

“It would be a gross violation of the public trust to fail to use this authority now, while American taxpayers and American homeowners, already struggling in a weak economy, are being asked to accept an historic intervention to rescue these institutions,”

While I may not agree with some of Barack Obama’s on a few issues, I completely agree with him on this one. The takeover of Fannie Mae and Freddie Mac was necessary to prevent a larger econmic problem for the United States. In the end, the takeover could end up costing US tax payers billions of dollars. Under no circumstances should we be rewarding CEOs for failure.

What do you think? Should Daniel Mudd receive a large severance package for his work at Fannie Mae?

However, based on some media reports, things at the national level are changing. This as the price of gas has passed the $4/gallon average in 11 states. $4/gallon seems to be the point at which many believe that the nation’s attitude would change. Based on what I’ve been reading, it seems that that is starting to take place.

Here’s what CNN reports in regard to driving habits:

• March figures show steepest decline in driving since 1942
• Compared with last year, drivers have logged 11 billion fewer miles, the DOT says
• Americans planned to drive less over Memorial Day weekend, AAA reports
• Public transportation ridership on rise, in part because of gas prices, group says

What are you seeing in your area? Are people riding bikes or walking more? What about public transportation - does it seem like ridership has increased?

If you follow the news, I’m sure that you’ve heard about the rise in sales of locking gas caps as people try to fend off fuel thieves. Perhaps you’ve heard friends and family venting about the cost of fuel. Heck, maybe you’ve even received one of those email forwards that calls for everyone to boycott the large oil companies by not buying fuel for a day.

I’ve heard it and seen it all, too.

However, it is my contention that a large majority of people don’t care how much fuel costs. They just like to complain.

On the days I do drive to work, I drive about eight miles per hour slower than I normally would. This puts my speed right around 62 miles per hour. Reducing my speed has improved my car’s gas mileage by about nine miles per gallon. The reduction in speed has also made it apparent how fast everyone else is going. Not to mention how many people drive alone in big SUVs.

Parking lots are also a great place to witness how little people care about the cost of fuel. My wife and I were leaving the grocery store the other day, and as we got to our car we noticed a car idling in the parking lot. Someone was sitting inside, talking on a cell phone. People don’t care.

If people cared about the cost of fuel, they would do something about it. Instead, they do as they always have done.

Perhaps the area I live in is different from what people in other parts of the country are doing. How about it? Has the rising price of gas caused a difference in the driving habits of people in your area?

Personally, I’m going to use my check to start at Roth IRA. How about you, what is your stimulus check earmarked for?

While I would like to pay less for gas, I agree with Barack Obama on this issue. Here’s why:

1. Gas tax revenue helps fund the Highway Trust Fund. This fund helps finance bridge and road repairs. Without money to correct aging infrastructure, our roads and bridges could become unsafe. In addition, the people who perform the repair work could lose their jobs because there isn’t funding to keep them employed.

Decreased tax revenue could lead the government to borrow in order to finance bridge and road repairs.

2. Gas prices could be artificially inflated when people have access to cheaper gas. This is a simple economics 101 situation. Lower prices create demand and more demand drives up prices.

I found a nice gas tax holiday calculator over at JabberWonk.com. I plugged my numbers into it to see how much I might save if the gas tax holiday is approved.

Since I’ve started riding my bike to work, the miles I drive a week probably aren’t 100. However, if I were to drive to work every day, these numbers would be pretty close. Even with these higher estimates, my total savings for the 15 weeks covered by the gas tax holiday would be $9.20. In the end, I would rather deal with spending $9.20 than the issues I outlined above.

What about you? Do you think a gas tax holiday would ease the financial burden that some consumers are feeling?