Bailout
I guess the bailout is going to get done today - with a Congressional vote tomorrow or Saturday. Importantly, CNBC is reporting that the credit markets are reacting, albeit tentatively, in a positive manner on the assumption that the bailout will get done. This blog has stated before, and will continue to state, that the credit markets are the most important market to capital and business operations. If the bailout frees up credit it will be a success. My initial reaction is that the Government should make money on the distressed securities it acquires.