Here's a video of Ron Paul hatin' on this bill, and talking about how it just leads to more inflation, and how the bill was filled with unnecessary security restrictions (like requiring mortgage brokers to get fingerprinted), and how credit card transactions will get reported to the IRS. -- KM


World markets are poised for a major relief rally today after the US Congress met in a rare weekend session to pass the most far-reaching rescue package for America's financial system since Franklin Roosevelt's New Deal.

The emergency bail-out gives the US Treasury sweeping authority to inject capital into the giant mortgage lenders Fannie Mae and Freddie Mac, which together own or guarantee half the country's $12 trillion stock of home loans. The ceiling on the US national debt has been lifted by a further $800bn, giving the Treasury almost unlimited resources to prop up the two lenders.

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