Investors worldwide are now anticipating one of the most severe global economic downturns since the Great Depression. After a two week free fall of our financial markets Congress finally came to their senses and passed the $700 billion bailout package. If the package had been positioned as a support mechanism for the credit markets and homeowners, instead of a bailout for Wall Street, the passage of the bill would have been approved a lot sooner. However, it appears now that the package is “too little, too late”. It has done little to reassure the markets or stem the tide of selling. Unfortunately, the damage is done and Wall Street as we knew it is now changed forever.

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