All Posts Tagged With: "FDIC cap"

Stakes are High as Bailout Strides to Clear House and Senate

The United States Senate was set to vote last night (Wednesday) on a $700 billion bailout plan that is slightly different than the one that the U.S. House of Representatives rejected on Monday. Many analysts anticipate this bill will pass after the Dow Jones Industrial Average’s 778-point drop Monday provided very tangible evidence of the precariousness of the U.S. economy.

The Senate vote was scheduled to start after 7:30 p.m. EDT, last night. The hope is that the House of Representatives will then be ready to take action on this new bailout bill version on Friday, said Brendan Daly, a spokesman…

2Oct2008 | Money Morning | Comments Off | Continued

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