David Kirkpatrick

October 1, 2008

Bailout still in DC debate

Filed under: Business, Politics — Tags: , , , , , — David Kirkpatrick @ 2:04 pm

Looks like the Senate is voting tonight on a bailout version that might be a bit more palatable to the House GOPers, although I’m with the fiscal conservatives who urge calm over freak-out.

After Monday the markets seem to have settled down to a quiet boil. Major money is flowing into T-bills and away from the open market.

Even though there’s a relative calm, I’ve heard the Martini sisters — Ivana and Anita — are still in high demand on Wall Street. Thanks folks, I’ll be here all week. Be sure to tip your waitstaff and come back Friday for the prime rib lunch special.

From the first link:

Senate leaders scheduled a Wednesday night vote on a $700 billion financial bailout package after accepting tax breaks and a higher limit for insured bank deposits in a bid to win House approval and send legislation to President Bush by the end of the week.

Top lawmakers said the Senate proposal, worked out after a day of maneuvering behind the scenes, would include tax breaks for businesses and alternative energy and higher government insurance for bank deposits.

“It has been determined, in our judgment, this is the best thing to move forward,” said Senator Harry Reid, Democrat of Nevada and the majority leader, in announcing the surprise move. The House was expected to vote on Friday.

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