Source: CPN
The financial market bailout bill passed the Senate late last night, after much stick-wielding by both the administration and Senate leaders on both sides of the aisle by a vote of 74-25. The sticks, however, came with plenty of carrots, too.
Such sweeteners were designed to overcome conservative resistance to the $700 billion financial industry bailout and they worked in Senate, and appear to be working in the House, which is next to take up the bailout issue. The House defeated the initial bailout effort by a vote of 228-205, sending the Dow down a staggering 777 points.
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