And if that doesn’t stanch the bleeding, he has proposed a ban on selling Fannie (FNM) and Freddie (FRE) shares. Because “it was those evil naked short sellers who brought us low!”

Folks, I will tell you three solid gold truths right now:

1. We as a nation dug this hole.
2. Right now, all the politicians are doing is digging it deeper.
3. And if and when they do get around to it, it will hurt to dig us out.

In the meantime, you will only see more failures, more layoffs and more losses. If you are politically inclined, you might care to tell someone in Washington to suck it up, get on the stick, quit whining and blaming, and start digging us out.

If and when they “man up,” there will be a bottom-feeding frenzy of truly awesome proportions. Today is NOT that day.

Today, you should be purchasing puts against the blue chips as a whole, as well as puts against specific financial, retail and transport stocks. This tactic has allowed my readers to make gains of 251% (Diamond puts), 132% (JC Penney), 108% (Bank of New York) and 68% (Ryder trucks), just to name a few of our most recent winners.

In point of fact, these three groups’ troubles have yielded WOW readers access to gains in excess of 1,175% in 2008.

I expect that figure to double before year’s end — regardless of what Washington and Wall Street do.

Sincerely (if somewhat testily) yours,

Adam

P.S. If you’d like to hear more about how we dug the hole, just how deep it will get and what it will take to dig us out, be sure to tune into my testimony at the Taipan Emergency Telesummit.

P.P.S. Also, I will be speaking at Taipan’s Global Opportunities confab in San Francisco. If you want to catch up with me there, be sure to make the early session on Wednesday morning.

by Adam Lass, Senior Editor, WaveStrength Options Weekly

Source: To Err Is Human. It Takes a Politician to Really Screw Things Up

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