I show that Eddington accretion episodes in AGN are likely to produce winds
with velocities and ionization parameters up to
(cgs), implying the presence of resonance lines of helium-- and hydrogenlike
iron. These properties are direct consequences of momentum and mass
conservation respectively, and agree with recent X-ray observations of fast
outflows from AGN. Because the wind is significantly subluminal, it can persist
long after the AGN is observed to have become sub–Eddington. The wind creates
a strong cooling shock as it interacts with the interstellar medium of the host
galaxy, and this cooling region may be observable in an inverse Compton
continuum and lower–excitation emission lines associated with lower
velocities. The shell of matter swept up by the (momentum--driven') shocked wind must propagate beyond the black hole's sphere of influence on a timescale $\la 3\times 10^5$ yr. Outside this radius the shell stalls unless the black hole mass has reached the value $M_{\sigma}$ implied by the $M - \sigma$ relation. If the wind shock did not cool, as suggested here, the resulting (energy–driven’) outflow would imply a far smaller SMBH mass than actually
observed. In galaxies with large bulges the black hole may grow somewhat beyond
this value, suggesting that the observed relation may curve upwards
at large . Minor accretion events with small gas fractions can produce
galaxy–wide outflows with velocities significantly exceeding ,
including fossil outflows in galaxies where there is little current AGN
activity. Some rare cases may reveal the energy–driven outflows which sweep
gas out of the galaxy and establish the black hole–bulge mass relation.
However these require the quasar to be at the Eddington luminosity.

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