GoldenBoy812
09-29-2008, 02:03 AM
It looks as though a deal has been agreed upon, and now the economy can go back to functioning like it normally did. I am baffled as to how the market will respond to this news long term, more specifically by years end.
President George W. Bush and congressional leaders said they reached an agreement on a $700 billion bank-rescue package designed to revive moribund credit markets.
The House may consider the plan tomorrow and the Senate will vote by Oct. 1, lawmakers said today. While Bush and House Majority Leader Steny Hoyer predicted the measure would pass, Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi suggested they were unsure of the outcome.
``Now we have to get the votes,'' Reid said at a press conference on Capitol Hill. ``We will have to have bipartisanship to pass it,'' Pelosi said.
Bloomberg.com: Worldwide (http://www.bloomberg.com/apps/news?pid=20601087&sid=azFatjV6Or7M&refer=home)
President George W. Bush and congressional leaders said they reached an agreement on a $700 billion bank-rescue package designed to revive moribund credit markets.
The House may consider the plan tomorrow and the Senate will vote by Oct. 1, lawmakers said today. While Bush and House Majority Leader Steny Hoyer predicted the measure would pass, Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi suggested they were unsure of the outcome.
``Now we have to get the votes,'' Reid said at a press conference on Capitol Hill. ``We will have to have bipartisanship to pass it,'' Pelosi said.
Bloomberg.com: Worldwide (http://www.bloomberg.com/apps/news?pid=20601087&sid=azFatjV6Or7M&refer=home)