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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.
Quote: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.
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.
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?
Stumble It!
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