I haven't seen the details of the deal (its a day off and I just don't care to get in depth on this today!). But the deal should strengthen things in the USA. Whether you agree or disagree with the bailout, something had to be done to fix things for the long-term.
I am not a big Hank Paulson supporter, but seriously to get this completed is masterful. He is employed by a lame-duck republican president, with a democrat congress in the middle of an election. No one wants to support Bush (politically speaking) and the democrats don't want to get behind something that could be a disaster as well. To get something of this size completed in that situation is frankly extremely impressive.
I would expect the market ramifications of NOT getting a deal done here were going to be much, much worse than this deal will be.
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