What If It Wasn’t a Bailout or a Rescue?

When the Dow Jones Industrial Average hit 10,000 for the first time nearly a decade ago, they passed out hats at the NYSE to celebrate the event.

Today, as the Dow crossed that milestone again in the opposite direction, the mood was anything but joyous.

Conjures a sobering thought: What if the $700 billion agreement that Congress reached last week wasn’t a bailout bill or a rescue plan? What if it ends up being a chewing-gum patch on a Titanic-scale leak?

The only people I know doing well today: Photojournalists selling shots of distraught traders.