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Bernanke, Geithner Asset Management

With the government making big investments these days in Treasuries, banks and the auto industry, should you trade in the wake of the biggest whale of them all?

As you know, the Fed surprised Wall Street earlier in the week when the central bank said it will buy long-term Treasury bonds for the first time in four decades in an effort to revive the recession-hit economy.

And one day later the Treasury pledged up to $5 billion from the TARP to support struggling auto suppliers who are linked to Detroit’s car makers.

Also the Treasury will soon outline its latest plan to partner with private companies and rid banks of so-called toxic assets, that is assets which they can’t sell amid the current credit crisis in financial markets.

Should you buy alongside the government?

In general all the traders agree – when the government gets in, take your money and run in the other direction - at least when they target specific companies.

“When the government got involved with Citigroup, it went lower. When they got involved with General Motors , it went lower. Same for AIG ,” explains Guy Adami. “When they target specific companies I think you avoid them like the plaque.

However if the government props up a sector it’s well worth looking at companies in the sector that have strong balance sheets and could do well in the future. (In the past Adami has been bullish on US Bancorp for just this reason.)

"Right now I think it's okay to put my money in financials," adds Pete Najarian. But only those he considers best of breed.

“I like Goldman, Morgan and JP Morgan ,” he says.

Adami seconds that. “Considering what the government is doing there are certain banks that will do well in the future and there are banks where the stock has gone lower and will continue to go lower.

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Trader disclosure: On Mar. 19th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (BAC), (EEM), (FXI), (VIP), (TS); Seymour's Firm Owns (PBR); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Macke Owns (GE), (SDS), (MOS); Macke Is Short (BRK.b); Najarian Owns (C) Call Spread; Najarian Owns (GDX); Najarian Owns (GD) Call Spread; Najarian Owns (GLD) Put Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (TGT) Call Spread; Najarian Owns (WFC) & (WFC) Puts; Najarian Owns (XHB) Call Spread; Najarian Owns (MCD) Calls