Hail Britannia!

We have the Brits to thank for this rally. They came up with a plan to help the banks that is simpler and, on the surface, appears more effective than the original Treasury plan. The G7 and G20 committed to this plan over the weekend. We also have to thank the mystery congressman who put the language into the 400+ page rescue bill giving the government the flexibility to take an equity stake in the banks.