Stocks have come off their highs as Senator Richard Shelby, the ranking Republican, basically scuttled the bipartisan atmosphere around the Treasury proposal. "Before I sign off (on the plan), I would want to know we've exhausted all reasonable alternatives," he said.
And he was the ranking REPUBLICAN.
It's clear now that the bill will have clauses restricting executive compensation, partial ownership of some of the companies where there is significant purchasing of securities, and some kind of mortgage mitigation.
But traders still believe a bill will be passed, this week or next.
- Poll: Who Stands to Gain the Most With the Bailout?
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