Wall street Journal reports the current bailout proposal will be cut to an initial $250 billion with another $100 billion to follow if necessary.  The possibility of limits on executive pay and equity warrants in exchange for bailout assistance are evidently still on the table.  It sounds like the possibility of changes to bankruptcy law won’t be included which is a very good thing.

Is this a great thing?  No.  should it be done?  No.  But, as much as I dislike the concept, and the arrogance of the people involved in crafting this plan, it is probably necessary for the overall economy.