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Contentions

The Senate Acts

Voting from their desks in historic fashion the Senate passed the bailout bill 74-25. The margin is as important as the outcome. Perhaps a day of reflection, perhaps the stock market crash and the ongoing credit crunch or perhaps the backlash against the House’s failure to pass the measure shocked everyone into acting as they did, and in such a decisive fashion.

The minor adjustments ( e.g.adding business tax breaks, FDIC limit increase) made the bill arguably more conservative, and hence palatable to the House GOP. But it strikes me as vote by the Senate, a large bipartisan declaration that amounted to, “Enough!”

The House is slated to vote Friday. The fight for credit will now begin.



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