Senate Passes Amended Bailout Bill; House Next

[wroyal]

BREAKING: THE ECONOMY 10pm 10-1-08 The U.S. Senate passed another financial bailout bill tonight, this one loaded with lots of provisions to increase even more protection of Americans' money. Both Louisiana senators, Mary Landrieu and David Vitter voted against the revised Senate plan.

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

This amended Senate legislation also includes a number of new provisions aimed at Main Street. The changes are intended to attract more votes in the House, in particular from House Republicans, two-thirds of whom voted against the bailout plan.

The House is expected to take up the Senate measure for a vote on Friday, according to aides to Democratic leaders.

The legislation, if passed by the House, would usher in one of the most far-reaching interventions in the economy since the Great Depression.

Advocates say the plan is crucial to government efforts to attack a credit crisis that threatens the economy and would free up banks to lend more. Opponents say it rewards bad decisions by Wall Street, puts taxpayers at risk and fails to address the real economic problems facing Americans.

From Shrevetalk 10/2/08: http://www.shreveport.com/shrevetalk/

[vixweb]

this site....? I miss the emoticons.....