Wednesday, October 01, 2008

Senate Passes $700 Billion Wall-Street Bailout Bill

Two days after Wall Street's bailout failed in the House of Representatives, a newer version that includes tax breaks and an increased FDIC maximum for bank depositors passed the Senate in a vote tonight.

The legislation passed by a vote of 74-25, with Barack Obama, Joe Biden and John McCain all voting in favor.

If House leaders can rally enough support for the Senate bill quickly enough, a vote could take place there on Friday.