"There seemed to be a real disconnect between the perceived need that the market felt and the lack of understanding and resentment on the part of the general public, and so the market was just completely surprised when the package fell through," said Alan Gayle, senior investment strategist at RidgeWorth Financial. Gayle said that the bill was designed to provide stability to financial markets, which is different from helping the economy as a whole. He said that after nine consecutive months of job losses, consumers are likely to remain stressed, even with successful passage of a stabilization bill. That consumer frustration, he said, was probably an important obstacle to the initial proposal. "There is need for a package," said Gayle. "It's critical that we get orderly pricing on the distressed assets so that the market can move on." He said the extant plan was a good one, but that politics stymied the initiative. Several government agencies made additional efforts to stem the impact of the credit crisis. Citing people familiar with the matter, Bloomberg reported that the Securities and Exchange Commission and the Financial Accounting Standards Board may clarify fair-value accounting rules that guide firms in assessing the value of their assets. In other regulatory actions, the Federal Deposit Insurance Corp. said that a temporary increase in government insurance on deposits would help alleviate bank customers' increased concerns about the safety of their funds. Fitch Ratings said it may cut its credit rating on Citigroup ( C) following the bank's announcement that it would buy Wachovia ( WB) and take on $53 billion in Wachovia debt. Citi shares nonetheless gained 16% to $20.51, and Wachovia rocketed 89% to $3.48 after saying it's well-positioned to continue doing business.