Many readers reminded us of what no-one can have failed to hear: that the Congress passed and the President signed a $700B bailout bill
in an attempt to avert the meltdown of the US economy. The bill allocates $700 billion to the Treasury Department for the purchase of so-called "toxic assets" that have been weighing down Wall Street balance sheets. This isn't particularly a tech story, though tech will be affected
as will virtually all parts of the economy, and not just in the US. Among the $110B in so-called pork
added to the bill to sway reluctant legislators are extensions of popular tax benefits for business R&D and alternative energy, relief for the growing pool of people subject to the alternative minimum tax, and a provision raising the FDIC's ceiling of guaranteed deposits to $250,000. Some limits were also imposed on executive compensation
, though it's unclear whether they will be effective.