Largest theft of the American people’s wealth in history passes U.S. Senate!
WASHINGTON - October 1, 2008 - The
Senate version of a failed $700 billion cash infusion for Wall Street has
passed with hopes of enticing opposing House members to change their votes,
MSNBC reported.
The bill, with $100 billion in "sweeteners" such as tax breaks for the middle class and a temporary raising of the federal deposit insurance cap from $100,000 to $250,000, was attached to the Paul Wellstone Mental Health and Addiction Equity Act of 2007, which was approved on a 74-25 vote. Said "sweeteners," said Senator Chris Dodd (D-Conn.), chairman of the Banking Committee, are giving "no" voters "second thoughts about it."
The House is set to vote on the legislation Friday after rejecting a proposal backed by President Bush on a 228-205 vote, prompting a 777-point drop in the Dow Jones index. Senate Majority Leader Harry Reid (D-Nev.) used procedural measures to circumvent the House, usually the first house of Congress to vote on spending legislation. "There are a few people in the House who'd rather we did this another way," said Reid on the Senate floor. "But we've tried other ways. I say to my friends in the House of Representatives, we've got to get this done."
The bill was backed by both major presidential candidates, Senators Barack Obama (D-Ill.) and John McCain (R-Ariz.), with a "yes" vote also being cast by vice presidential hopeful Senator Joseph Biden (D-Del.).