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The bailout may be done. According to The Wall Street Journal, "U.S. lawmakers said a tentative deal has been reached to bailout the troubled financial system. Treasury Secretary Henry Paulson said bailout deal legislation still needs to be finalized, but that `I think we’re there’ on a deal."
The latest wrinkle to the legislation is that it "will expand the range of firms that can sell troubled assets to the government to include pension plans, local governments and community banks serving "low- and middle-income families."
The announcement of a finished bill could come before the open of Asian markets.
Douglas A. McIntyre
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