House Gets Another Turn At Passing Bailout Bill

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House Gets Another Turn At Passing Bailout Bill

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The Senate approved a $700 billion rescue package for the financial industry Wednesday night, giving new life to the bailout by loading it with tax breaks and other provisions tailored to help ease its passage in the House, where an earlier version fell a dozen votes short Monday.

Added on: Sat Oct 11, 2008 11:41 am by : jeorge

Rupert W Bradson
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	Hope it'll give some breather to the collapsing financial market. I hate to say this, but it seems the only available remedy to tackle the ongoing financial crisis. The actual outcome of it is not yet known though. Hope it would fetch some good result. Keep your fingers crossed.

survivorinthemidst
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Hope it would fetch some good result. Keep your fingers crossed.

It'll only happen if the money get disbursed in proper order. Its expected that it'll improve the availability of credit in the market, which will further cater to the capital needs of the businesses. But we are yet to see it in action in order to apprehend its proper usefulness.

fireyone
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	I agree with you both but I think the money should be closly monitored. I read in the paper that one of those bail out companies had employees at the ritz getting the 'day treatment". This I think is ridulous.I am waiting to see how this will effect the tax payers.