Posted by Bossip Staff
Senate majority, Harry Reid, spearheaded this massive bailout:
WASHINGTON – After a spectacular failure, the $700 billion financial-industry rescue plan found a second life, winning lopsided passage in the Senate last night and gaining ground in the House, where conservative opposition seemed to soften. The rescue bill – loaded with tax breaks for business and an increase in deposit-insurance limits – passed 74-25. It heads to the House for a vote tomorrow. House passage would require a turnaround of 12 votes from Monday’s stunning 228-205 defeat, which sent markets into a tailspin around the globe. “It is my expectation that the House of Representatives will follow suit,” Senate Democratic leader Harry Reid said after his chamber’s vote.
The question of the day is: who is responsible for paying this $700B tab? How special; you were gonna say the government. This one’s on us. I guess you won’t be buying those tagless tees from Hanes for your nephew because CHRISTMAS IS OFFICIALLY CANCELLED, until further notice. Tell your friends.