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As expected the Senate overwhelmingly passed the unpopular bailout (rescue) plan 74-25. Getting this bill passed in the Senate was never in doubt even thou the Senators received, telephone calls from their constituents voicing their anger by a two to one ratio. The senate thought that doing nothing about the economic crisis was never an option. The Senate added incentives (sweeteners or pork) to entice House members. They only need to change the minds of 12 House members,
The Senate added a clause that would increase the FDIC insurance from $100,000-$250,000..This measure will prevent bank overrun, keeping customers from withdrawing an amount over $100,000, only to deposit it across street in another back.. They added 150 million dollars in tax breaks for individuals and businesses. Did they overplay their hand?
Today House will look at this bill that has gone from being only three pages to this new version of 451 pages. They are expected to vote on...
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