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Ed: Britain does not have a crisis of leadership. Their leaders are still credible.

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World Markets Soar

Henry Blodget | October 13, 2008

A sampling as of 7:10AM ET:

• Hong Kong +10%
• Taiwan +7%
• FTSE +5%
• DAX +6%
• CAC +6%

After the UK bailout, all eyes will be on the credit spreads: LIBOR-OIS and TED.

And all minds will be wondering why the UK got the bailout right on its first try, while the US spent two weeks fighting about a strange trash asset removal plan.