Bailout: Senate to vote Wednesday

A second vote on the bail out plan is scheduled for later today.

[quote] NEW YORK ( – The Senate plans to vote on the $700 billion bank rescue plan Wednesday evening - two days after the House failed to pass it.

The bill adds new provisions - including raising the FDIC insurance cap to $250,000 from $100,000 - and will be attached to an existing tax bill that the House also rejected Monday, according to several Democratic leadership aides.

The vote is scheduled for after sundown, in observance of Rosh Hashanah. Republican presidential nominee John McCain, R-Ariz., and Democratic nominee Barack Obama, D-Ill., and his running mate Joe Biden, D-Del., confirmed that they would be present for the vote.[/quote]


Hmm, the Senate is kind of poking the House in the eye here eh, adding the bail out bill to a tax bill that the House previously rejected.

Adding the insurance update to the FDIC will be a smart move, how will those recalitrant Republicans and Democrats ever reject a bill that provides added protection to the average American… … ref=slogin

Sure is a mess, imagine the drama if the House votes against this one too though.

Thomas Friedman offers up some advice for the fiscally challenged Represeneatives  in the NY Times today., … ref=slogin

Though my favourite comment on all of this belongs to Paul Krugman the Princeton Economics professor and NY Times columnist… who watched in wonder on Monday as the House brought the US economy to the cliff and then thought he we should push…

“A Banana Republic with Nukes”, kind of sums it all up after monday… … -republic/

Fascinating, if rather scary times all in all…

CNN should put it all on a pay per view channel, could rake in some cash. 

Agreed.  This is a real mess.  I’m very curious to see the outcome of this vote. :smile:

The Senate passed the bail-out package.  The House is expected to vote on the package this Friday.