The $700B Wall Street Bailout : Martingale Game?

Ok, still trying to get my head around this $700 Billion wall street bailout that the Senate passed last night, and sent back to the House. (helping to drive home the fact that we live in a backward world these days) Some say the bailout number is acutally much smaller, like $250B. Yes, small. Small, like a quarter trillion. Others claim that we're not bailing, but supporting. Buying loans tied to assets, so the risk is lower and we might even make a profit. Color me skeptical. Hope they're right. The taxpayer could use a good investment these days.

But here's an interesting take, by Jordan Ellenberg:
We're Down $700 Billion. Let's Go Double or Nothing!

Makes the case that the plan is a legistlative version of a martigale gambling strategy.

Congress Doubles Down!
(and so does the taxpayer)