Senate passes bailout bill

Reply Wed 1 Oct, 2008 07:53 pm
Senate passes bailout
Plan to buy $700B in troubled assets wins OK. Backers hope add-ons will yield more yes-votes in House.

The Senate on Wednesday night passed a sweeping and controversial financial bailout similar in key ways to one rejected by the House just two days earlier.

The measure was passed by a vote of 74 to 25 after more than three hours of floor debate in the Senate. Both presidential candidates, Sens. Barack Obama, D-Illinois, and John McCain, R-Arizona, voted in favor.

Like the bill the House rejected, the core of the Senate bill is the Bush administration's plan to buy up to $700 billion of troubled assets from financial institutions.
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Reply Wed 1 Oct, 2008 08:18 pm
I was expecting more in the way of sweetners, really. Let's wait and see what all the House can pack in.

Damn! There I go, getting all cynical again.
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Reply Thu 2 Oct, 2008 01:15 am
Am I the only one thinking that the individual House Republicans who were lauded for their heroic stance at the last vote will have even more difficulty voting "aye" this time?
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