Bailout Agreement

Agreement has been reached in Congress on the bailout bill and it is hoped to be voted on as soon as Monday evening. Markets will sort through the viability of the bill passing and the other shoes that are dropping around the rest of the US economy. The rationalizations for supporting the bailout has been to avoid a possible total meltdown of the lending capabilities of the national if not international economies. Some have reasoned such dire consequences speak to a world market that is now flat and cautious about growth, thus leaving world stock markets with some upside but a bunch of sideways action. We shall see, but the bears may have run out of news for a time.