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Will the banking system return to normal overnight?

While the newspapers and financial sites are full of news about the US bailout of the 'world' many people seem to be falling into the trap of thinking that it will all go back to normal overnight. However, in reality this is far from the truth because there will need to be an orderly transfer of some of the more toxic investments into the US bail out fund and financial companies will need to get their balance sheets back in order.

The bail out is great news for stock markets around the world, it is great news for business and even better news for the public but it is not a quick fix. To put aside and spend upwards of $700 trillion is a major project and one which will need some careful planning. It was also announced that the fund will be open to foreign banks trading in the US which is sure to cause some controversy in American circles.

There is light and the end of the tunnel, the storm which was howling around the financial markets of the world is easing but we are not quite there yet. As they say, the devil is in the detail.

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