1800 BANKS MAY SEEK FEDERAL FUNDS

Linda McGlasson over on BankInfoSecurity.com had this highly enlightening update. 1,800 more reasons to own gold and not paper money. As Americans lined up to vote on Tuesday, the European markets responded to expectations of an election day Wall Street bounce. Dow futures were up 183, about 2 percent, with investors clinging to the positive that the wait will soon be over to see who will become the 45th president of the United States.

On the banking front, there may be as many as 1,800 publicly-held financial institutions applying for their piece of the federal bailout of banks, say sources close to the U.S. Treasury program that has already doled out $125 billion in investments to the top nine banks in the country. Another 16 regional banks have applied for $33 billion of the feds money.