Ann: Port access and project finance update , page-9

Fiscal cliff
50 days.The voters have left Congress divided.The political divide/ gridlock threatens to drive the economy back into recession by continuing to block a deficit reduction deal.Without a compromise,the fiscal cliff - automatic severe spending cuts and tax increases that were agreed last year as an unthinkable action that would push the 2 sides to reach a deal on fiscal tightening - will take effect on Jan 1.The battle in Congress over averting the fiscal cliff looked likely to dominate Wall St's attention for weeks to come.The final deal in the fierce combat over the fiscal cliff - the $600b in bruising spending spending cuts and tax hikes-will only come at the 11th hour,will involve a nasty cocktail of tax hikes for high income earners and higher taxes on dividends and capital gains, will hardly reassure Wall St.
And with the delayed funding,RES sp will drop in the weeks ahead. Load up for those with spare cash!GL,LT!!Here we go again!!