BREAKING NEWS: The Senate passes, by a vote of 74-25, the revised bailout plan that the House vetoed on Monday.
BEHIND THE NEWS: Within the new bailout plan, the Senate has asked for the FDIC to increase the cap from $100,000 to $250,000 in hope of attracting more customers to banks. This new plan now has to be agreed upon by the House and that vote will take place on Friday. From what I understand, this bill has to pass "as is". No change can be made because the Senate has voted.
I am praying for the best, but I am not optomistic about the vote on Friday. They turned down the first bailout plan, but this one has what they call "Christmas Ornaments" attached to it. Hopefully, they will sway some of those, two-thirds of the Republicans, who voted Nay to vote Yes on Friday.
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