Early this morning, as most Americans slept perhaps restlessly in light of the current crisis, Congress came to agreement on a plan that has a little of what everyone was looking for: (1) big money injected quickly into the market (2) limits on golden parachutes for executives of failed firms (3) stock warrants for the government in return for the bailout (4) and as a nod to the House Republicans a market-based solution through insurance alternatives to the government buying distressed securities.
The details have yet to be put in writing, and that is the task for Sunday. Perhaps the market will know where things stand by the time the bell rings Monday morning. I have a feeling it will be years before we fully comprehend the effects of this momentous occasion.
More here at Breitbart.