Senate loves the bailout, 74-25
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It was fluffed up to 451 pages, sweetened with tax cuts and smeared with lipstick, but the bailout the Senate passed tonight was, at its core, essentially the same approach to the financial crisis that House Minority Leader John Boehner aptly called a ‘crap sandwich.’ A crap sandwich with special condiments.
Links and headlines:
The Los Angeles Times:
With both presidential candidates returning to the Capitol to lend support, the Senate voted reluctantly but solidly in favor of a modified $700-billion Wall Street rescue plan tonight. But it remained uncertain whether the legislation, even with a carefully designed package of tax breaks, would be able to withstand the fierce crosswinds of liberal and conservative resistance in the House later this week.
The Senate strongly endorsed the $700 billion economic bailout plan on Wednesday, leaving backers optimistic that the easy approval, coupled with an array of popular additions, would lead to House acceptance by Friday and end the legislative uncertainty that has rocked the markets.
--Peter Viles
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