CNN confirms through sources tonight that the Senate will vote tomorrow on the same defeated bailout plan the House voted against on Monday. The vote is expected to take place after sundown because of the Jewish holiday.
There are a few changes to the bailout plan that were added since its defeat. One of the additions is the increase of the amount insured by the FDIC to be increased from $100,000 to $250,000. With the requested increase the goverment hopes to stimilate the consumers confidence in hope that they would want to deposit more money into banks. If the increase it granted, it will be the first change of the FDIC limit since 1980.
If round 2 of voting does not reach a resolution, expect a repeat of Monday on Thursday.
Source: CNN
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