Katie Franzios reports on Bay St. reaction to the U.S. bailout.

Bay street was bustling when word of U.S. congress passing the Wall St. bailout came down but many say it's a quick fix and more needs to be done.

CFRB's Katie Franzios was on Bay St. today.

Whenever the US markets make a hit, the TSX is not far behind, which is why those in Toronto's financial district felt relieved when told the bailout had passed. However, many say it's a good first step but there needs to be a long-term plan, such as a way of regulating the banking industry.