Tuesday, September 23, 2008
This is capitalism at its best! Now you can bet on odds that the Treasury Asset Relief Program (TARP) bill will pass by the end of this month. Today, Intrade.com, a prediction market platform that was founded in 1999, initiated one more asset on its prediction platform: the passing of TARP. You can buy the odds at 62.5% that the bill passes, down 2.5% from 65%.
I am just relieved that the number is less than 100%. I will hope, no pray, that the odds fall, rather than rise. However, after Paulson’s and Bernanke’s testimonies today, the bill would allow us to bypass a supernova economic threat…..all at the cost of $1,000,000,000,000!