
Well, was that so difficult? On a vote of 74 to 25, the United States Senate voted tonight in favor of President Bush’s $700 billion Wall Street bailout plan. The next president of the
In fact, the ease with which the market stabilization legislation passed tonight begs the question of why the Mensa Society (a.ka. the congressional “leadership”) decided to have the House vote on this measure first anyway. Its fate was always uncertain in the House; it was a Senate-forged compromise to begin with, and, not to put too fine a point on it, each party’s 2008 presidential nomine is a sitting Senator.
The measure now heads back to the House, for a vote that, as of this writing, is scheduled for Friday. Its chances seem higher now than they were two days ago. A Dow Jones loss of 778 points in one day will concentrate the mind—and the Senate has given House members cover. Also, in fairness to those congressmen and congresswomen who voted nay on Monday, this bailout package is an improved version, offering more protection to more Americans.
So, unless you’ve gone off the grid and stashed your cash in a mattress, cross your fingers that the House rises to the occasion in two days. Also, light a candle in hopes that President Bush and Treasury Secretary Henry Paulson actually know what they’re doing. On another matter, tomorrow is the big debate between Sarah Palin and Joe Biden. The great Gwen Ifill will be moderating, and I expect all loyal readers of this blog to be glued to their TV sets.
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