Markets Bounce Back as Bailout Rescue Nears

The Toronto stock market rose nearly 500 points yesterday, offsetting a good chunk of the record-setting loss that followed the failure of a $700-billion US bailout for the U.S. financial industry.

The market continues to bounce like a ping-pong ball full of mercury, and the headlines scream bloody murder, but what does this mean for most of us regular folks?

That depends. If you have a recession-proof job, then you're OK: teachers may not make as much as Wall Street types, but I know which job I'd rather have right now.

Independent candidate for President of the United States, Ralph Nader, predicted the Wall Street financial crisis 8 years ago. 

This is sounding essentially like a 700-billion dollar spending package combined with a tax cut. I don't think you need to be a PhD. economist for the following very reasonable question to occur: 'How the heck is that going to work?'

Looking down from his building's 87th floor at the glittering signs of multinational banks along the river here, Fan Dizhao declared confidently that Wall Street's reign as the world's No. 1 financial hub is coming to an end.

There has been talk of fresh attempts to get bail out package approved by US House of Representatives after being defeated. This happened despite urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. Now House will again vote to clear a new reformed bail out package.