Does anyone seriously doubt that congress will fail to pass any bailout bill?
Though this first bill failed, there will no doubt be a vote that will pass. Presumably, that bill will be a more cautiously constructed affair with a smaller price tag to the American tax payer.
It's far too early to call this a disaster. Today was painful, but an overreaction. A bailout will be passed, and those 777 points will be factored back into stock prices.
Don't count on any bill to jump start stock prices. I doubt that will happen.
I figure news of a new bailout compromise that has the votes to pass would be worth a 400 point bounce minimum. The market has been incredibly unstable lately.
