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Is the Dow safe now?



The market closed within arm's reach of last Friday's close.
The Dow ended its most amazing week ever at 11,375.8, only 33.56 points below where it was one week ago.

But oh, has the debate started.

My inbox is full of people hailing the government's many actions or hating them. The taking of mortgages from the banks will turn into a $1trillion taxpayer bill bailout. Or the government's getting these mortgages at a very cheap price and could eventuallly profit from them.

A week ago, the world's largest insurer was not a government controlled company. Lehman Brothers was still in business. No money funds had broken the buck in 14 years.

My take: We should be slammed with so many new regulations that make sure the taxpayer's money is well spent.

And investors should demand, insist, on transparency. Some of the things I found on AIG's books were amazing to me. How anyone who looked could not have been worried, I don't know.

I'm not entirely sure it's over. I don't know what will happen next. But it sure feels better.

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About the author
You've got the job of managing your money. No one in school taught you how. But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money last, how to educate the kids, how to make a budget work. The conversations I have with my readers are fun. Money's important, but discussing it does not have to be boring.

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.

Brackey has worked at Business Week magazine and at USA TODAY, where she was a founder and part of the original staff of the Money section at the country's first national newspaper. After nearly 11 years there - spent covering the 1980s bull market, the insider trading scandals, the 1987 crash - Brackey left Washington, D.C., and came to The Miami Herald. She spent the next decade writing a column about personal finance that chronicled the stock market's Internet boom and bust, as well as the popular Money Makeover features.

Brackey also has done commentaries for Marketplace Money, which airs on National Public Radio and The Nightly Business Report which is broadcast on more than 250 PBS television stations nationwide. She also has been a radio guest on WLRN’s Miami Herald News.
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