GreenGop.org

The future of the Bailout bill now rests firmly in the hands of the House of Representatives. They were swift to vote against the measure on Monday. The new HR1424 Measure is now loaded with additional pork that should sway the house to act in favor of the bill.

There are many mixed opinions about this bailout bill from all over the country. Major analysts are worried about the long term effects that this measure will have and if the oversight committees will actually follow through on this one. The bailout bill could assist the economy in the short term but unless it is handled correctly it will probably not be good for the long term. There are many potential issues that I can foresee being a problem.

senate vote bailout

As expected the United States Senate passed the Bailout Bill this evening.  The bill passed with a favorable 74 – 25 vote.  Hopefully, with this new measure pass the stock market should rally tomorrow and begin a turnaround to an otherwise woeful beginning to the 4th Quarter.

This bailout bill will not solve all the problems related to the credit crisis that many are facing but it should be able to add some relief to some already unstable financial institutions.